Advent to buy Natura stake as founders leave board
Advent International will buy up to a 10% stake in Natura as the cosmetics firm's founders exit the board. Alessandro Carlucci is set to become the new chairman.
The prominent cosmetics manufacturer Natura &Co Holding S.A. has announced a significant shift in its ownership structure following a binding agreement with a private equity firm from the United States. Advent International is set to acquire a minority stake in the company, marking a new chapter for the beauty giant as its original founders prepare to step down from the board of directors in Brazil.
According to a recent securities filing, Advent International will purchase between 8% and 10% of the company's shares. The acquisition is expected to take place on the secondary market over a six-month period, with a target average price of 9.75 reais ($1.86) per share. As part of the investment agreement, the private equity firm will be granted the authority to appoint two members to the board of directors.
The transaction coincides with a major leadership transition. The company confirmed that its founders—Luiz Seabra, Guilherme Leal, and Pedro Passos—will be leaving their positions on the board. Additionally, Fabio Barbosa, the current chairman and former chief executive, is also slated to vacate his seat.
To maintain the founders' expertise, the company has proposed the creation of a new advisory board. This body would include the four departing leaders but would not hold formal decision-making powers. Under the new governance proposal, Alessandro Carlucci is expected to take over the role of chairman, steering the company through its next phase of growth.
