The logo of British cosmetics and skin care company The Body Shop is seen outside a store in Vienna, Austria, June 4, 2016. REUTERS/Leonhard Foeger/File Photo Acquire Licensing Rights
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
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