Aurelius in talks to buy The Body Shop- source (updated)
29/10/2023 11:24
(Adds confirmation of talks from a source, background)
By Akanksha Khushi
Oct 29 (Reuters) - Private equity investor Aurelius
Group is in talks to buy beauty products chain The Body Shop,
which has been put up for sale by its Brazilian owner Natura &
Co NTCO3.SA , a source familiar with the talks told Reuters.
If completed, the deal is expected to value The Body
Shop at a lower price than the 400 million pounds-500 million
pounds ($485.20 million-$606.50 million) suggested in some media
reports, the source, who did not wish to be identified, said.
Brazilian cosmetics maker Natura said in August that its
board of directors had authorized the company to search for
"strategic alternatives" for its subsidiary The Body Shop,
including a potential sale of the business. Natura bought The
Body Shop from L'Oreal OREP.PA in 2017.
Natura and Aurelius declined to comment while The Body Shop
did not immediately respond to requests for comment.
The talks were first reported by Sky News.
($1 = 0.8244 pounds)
(Reporting by Akanksha Khushi in Bengaluru; Editing by
Alexander Smith and Susan Fenton)
((Akanksha.Khushi@thomsonreuters.com;))