Investment company Aurelius, the owner of UK health & beauty retailer Lloyds Pharmacy, is understood to have joined a host of bidders to buy ethical international beauty retail brand The Body Shop.
Private equity firms Epiris and Elliott Advisors are also still part of the bidding process for the international brand, reported Sky News.
Body Shop owner Natura is working with bankers at Morgan Stanley and is keen to reach a “provisional agreement on a sale by the end of this month”, the report said.
Natura has owned the brand since 2017 when it bought The Body Shop from L’Oréal in 2017 for €1 billion (£880 million). L’Oréal had previously bought the independent chain in 2006 for £600 million.
The Body Shop has struggled in recent years due to rising competition from other beauty brands growing their own ethical/sustainable brands in a strong beauty market.
However, it still has a strong presence on the UK high street with some 205 stores. But recent figures show net sales in Q1 fell over 9% and the UK unit’s CEO stepped down suddenly a few months ago.
The Body Shop was founded in 1976 by the environmental campaigner Anita Roddick and husband Gordon. It employs around 10,000 people and has 3,000 stores in 70 countries.
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