Aurelius Group said to be in exclusive talks to buy The Body Shop
A deal is expected to be signed with the private equity firm in November
Aurelius Group is in exclusive discussions to acquire UK-based cosmetics chain The Body Shop International Ltd. from Natura & Co Holding SA, Sky News reported, citing people familiar with the matter.
A deal is expected to be signed in November after the private equity firm saw off competition from rival bidders, including Alteri Investors and Elliott Advisors, according to the media outlet.
Any transaction would value The Body Shop at a “substantially lower” price than 400 million pounds to 500 million pounds, it added.
Natura has been exploring a sale of The Body Shop in a bid to cut costs after acquiring the retailer from L’Oreal about six years ago. The Sao Paulo-based firm is said to be working with Morgan Stanley on a transaction, with a goal of concluding a deal before the year is up.