Brazilian cosmetics group Natura has agreed to sell an 8–10% stake to US private equity firm Advent International at an average price of 9.75 reais ($1.86) per share, according to a report by Reuters citing a recent company filing.
The purchase will be executed in the secondary market over six months.
As part of the transaction, Advent will gain the right to appoint two members to Natura’s board. The deal coincides with a significant board reshuffle, with founders Luiz Seabra, Guilherme Leal, and Pedro Passos, along with chairman and former CEO Fabio Barbosa, all stepping down.
Natura has proposed forming a new advisory board with these four individuals, though it will have no decision-making authority. Alessandro Carlucci is slated to take over as chairman.
