Private equity firm Aurelius swoops for The Body Shop
The private equity firm that owns Lloyds Pharmacy is in talks to buy The Body Shop, according to reports.
Aurelius Group is in negotiations to buy the British beauty products chain, which was put up for sale by its Brazilian owner, Natura & Co over the summer.
The pan-European alternative investment firm has ousted competition from rival investors Alteri, Epiris and Elliot Advisors, which owns Waterstones, according to a Sky News report.
Alongside, Lloyds Phamarcy group, Aurelius also owns the street and sportswear chain Footasylum, which it snapped up from JD Sports last year.
If Aurelius clinches a deal, it would likely value the firm at a far lower price than the £400m to £500m range floated in past media coverage.
A deal is expected to be signed and completed by November, Sky News reported.
Natura & Co announced in August that its board of directors had authorised a search for “strategic alternatives,” for the beauty chain, including a potential sale.
Natura & Co first bought the Body Shop from L’Oreal in 2017 for £1.1bn but the cosmetics brand has struggled in recent years amid fierce competition in the market.
Aurelius and Natura & Co declined to comment. City PM approached the Body Shop for comment.