The Body Shop acquires franchise business

LONDON — The Body Shop has acquired its Australian franchise business. Terms of the deal were not disclosed.



Over the last 32 years, head franchisee Graeme Wise has built the business in Australia into The Body Shop, a market renowned for its excellence in service and strong brand values. Commenting on the deal, Wise stated, "In transferring ownership of the business to The Body Shop International, I am pleased that the future of the business will be in the best possible hands."



Jeremy Schwartz, chairman and CEO of The Body Shop, said, "I am delighted to welcome the talented teams in Australia who have contributed to build a successful business in this strategic market. I am very much looking forward to working with them and pursuing the development of The Body Shop values, culture and business in Australia."

The Body Shop, which was acquired by L'Oreal in 2006, has more than 3,000 stores in 66 countries.