PETALING JAYA: Innature Bhd
is acquiring the entire shareholding in The Body Shop Singapore Pte Ltd from The Body Shop International Ltd (TBSI) for RM10.4mil.
In a filing with Bursa Malaysia, Innature said the acquisition underscores its long-standing relationship with TBSI over the past 40 years.
“The expansion into the Singapore market is expected to further enhance the business relationship between both parties, at an inflection point where TBSI under the new leadership is seeing the gradual normalisation of operation and new products in pipeline.”
Innature said the acquisition is anticipated to contribute to the future growth of the group in the long term.
“The geographical and cultural proximity of the Singapore market to Innature group’s primary base in Malaysia provide synergistic opportunities between both markets in enhancing operational efficiencies and expanding digital reach.”
