L’Oréal has agreed to purchase UK-based The Body Shop, a marketer of natural-based cosmetics, for a cash deal worth $1.14 billion.

The Body Shop would retain its existing identity and would continue to be based in the UK. Its current management would remain in place and would report directly to Jean-Paul Agon, L’Oréal chief executive designate.

The Body Shop would give L’Oréal access to a naturally-oriented cosmetic line with a “masstige” positioning, according to L’Oréal. The deal is pending necessary regulatory approvals.