The Body Shop chain with 250 stores sold in deal worth £207million
The Body Shop chain has been sold as part of a deal worth £207million.
The owner of the high street beauty and cosmetics retailer Natura & Co confirmed it has reached an agreement for the sale to the private equity investor Aurelius Group. The deal is expected to be completed at the end of next month. However, it remains subject to approval by the relevant competition and regulatory authorities.
Aurelius Group - which owns other popular brands such as Footasylum - said it would work with the management team to drive "operational excellence" across the Body Shop brand. It also said it would "leverage its expertise and experience in the omnichannel retail and wholesale markets".
Tristan Nagler, partner at Aurelius said in a statement: "We are delighted to be undertaking this acquisition of an iconic British brand, which pioneered the cruelty-free and natural ingredient movement in the health and beauty market. We look forward to working with CEO Ian Bickley and his team to drive operational improvements and re-energise the business, and help to deliver the next chapter of success."
Ian Bickley, CEO of The Body Shop, added: “Today, we celebrate a truly historic moment for The Body Shop as we join forces with Aurelius to begin a new chapter, allowing us to continue building the relevancy of this global brand for future generations.
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"With a presence in over 80 countries, The Body Shop is not only a beauty brand, but also an iconic social business that has captured hearts in nearly every corner of the world. We are deeply grateful to Natura &Co for their unwavering support and I'm looking forward to working hand in hand with Aurelius as we adapt and flourish in new global retail environments, always with an eye on sustainable and profitable growth.”
It is not clear at this time whether a sale of the company will see stores close or jobs lost. This means as of writing, the sale does not have any impact on The Body Shop and stores across the world - including the UK - will continue to trade as normal. The beauty chain has over 250 stores in the UK and over 2800 across 70 countries worldwide.
The Body Shop owner announced it was considering selling the skincare and cosmetics business due to declining sales earlier this year. In a filing published in August, Natura & Co said it had authorised bosses to explore "strategic alternatives" for the retailer.
Body Shop opened its first store in Brighton in 1976 by British environmental and human rights campaigner Dame Anita Roddick. The chain boasts of being one of the first cosmetics brands to prohibit testing on animals, and also the first company to introduce Fair Trade to the beauty industry. In 2006, Anita Roddick controversially sold the Body Shop to the cosmetic giant L'Oreal. The company was then sold to the Brazilian cosmetics company Natura & Co in 2017 for £857million.
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