Brazilian firm Natura have won the race to acquire the body shop, with parent company L’Oreal choosing to sell the beauty chain for $1.1bn. The move comes after L’Oreal acquired the chain 11 years ago with the buyer, Sao-Paulo based cosmetics manufacturer Natura being the largest in Brazil, operating in Argentina, Chile, Mexico, Peru, Colombia and France. Chairman and chief executive of L’Oreal Jean-Paul Agon noted that he was “very pleased to announce Natura as the potential new "home" for The Body Shop. It is the best new owner we could imagine to nurture the brand DNA around naturality and ethics."