The deal marks InNature’s expansion into Singapore and will add to its 105 The Body Shop stores in Malaysia, Vietnam, and Cambodia.WHO: Founded in 1976 by the late businesswoman and human rights activist Anita Roddick and her husband Gordon, The Body Shop pioneered ethical consumerism and argued that business could be a force for good. The Body Shop Singapore has 29 stores nationwide.InNature group has been in the business of retailing cosmetic and personal care products under the franchise of The Body Shop since 1984, serving customers across Malaysia, Vietnam, and Cambodia through its network of retail stores and digital channels.WHY: The acquisition is expected to benefit the group, given Singapore’s larger market size, higher per capita spending in the personal care industry, and increasing opportunities in digital penetration.IN THEIR OWN WORDS: In a filing with Bursa Malaysia, InNature said the acquisition underscores its long-standing relationship with The Body Shop International Ltd. (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 inflexion point where The Body Shop International, under new leadership, is seeing gradual normalization of operations and new products in the pipeline.”The company continued, “The new FFA provides greater flexibility to the group in shareholder value creation. The FFA also eases business restrictions, requiring approval from The Body Shop International only for ventures in direct competition.