2023-10-29 16:15:15
© Reuters.
By Akanksha Khushi
BENGALURU (Reuters) – Private equity firm Aurelius Group is in talks to buy beauty chain The Body Shop, which has been put up for sale by Natura&Co (BVMF:), a source familiar with the negotiations told Reuters.
If completed, the deal is expected to value The Body Shop at a price lower than the 400 million to 500 million pounds ($485.20 million to $606.50 million) suggested in some media reports, the source said, who did not want to be identified.
Brazilian cosmetics maker Natura&Co said in August that its board of directors authorized the company to seek “strategic alternatives” for its subsidiary The Body Shop, including a potential sale of the business. The company purchased The Body Shop from L’Oreal (EPA:) in 2017.
Natura and Aurelius declined to comment, while The Body Shop did not immediately respond to requests for comment.
The negotiations were previously reported by Sky News.
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