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The Business Magazine May 2024
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The Body Shop sold again in deal worth £207M

The Business Magazine article image for: The Body Shop sold again in deal worth £207M
17 November 2023

The Body Shop, the iconic ethical beauty retailer, which first opened its doors in Brighton, Sussex in 1976, has been acquired by private equity group Aurelius in a deal worth £207 million.

The brand was famously founded by Anita Roddick and now has a presence in more than 80 countries. She sold it to L'Oreal in 2006 and it has been sold three times since then.

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Most recently, it has been owned by Brazilian beauty giant Natura, which bought the company in 2017 for £880 million. Earlier this year, Natura, under a broader company shake-up, also sold its luxury brand Aesop to L'Oreal.

In a statement, Aurelius, which is focused on driving operational improvements, said despite the challenging retail landscape, there was an opportunity to "re-energise" The Body Shop business.

"We are delighted to be undertaking this acquisition of an iconic British brand, which pioneered the cruelty-free and natural ingredient movement in the health and beauty market," said Tristan Nagler, partner at AURELIUS.

"We look forward to working with CEO Ian Bickley and his team to drive operational improvements and re-energise the business, and help to deliver the next chapter of success."

Bickley added that the Body Shop was not only a beauty brand, but also an "iconic social business".

"We are deeply grateful to Natura &Co for their unwavering support and I'm looking forward to working hand in hand with Aurelius as we adapt and flourish in new global retail environments, always with an eye on sustainable and profitable growth," he said.

The deal is expected to close in December this year, subject to approval by the relevant competition and regulatory authorities.

London-headquartered The Body Shop employs around 7,000 staff. Its product portfolio comprises natural ingredient-based bath & body, skin care, fragrance, hair care, make-up and gifting.

The retailer does not test its products on animals and strives to work fairly with farmers and suppliers.

The purchase deal includes an earn-out of £90 million for Natura, subject to certain conditions.

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Giles Gwinnett is a writer at The Business Magazine. He has been a journalist for more than 20 years and covered a vast array of topics at a range of media settings - in print and online. After his NCTJ newspaper training, he became a reporter in Hampshire before moving to a news agency in Gloucestershire. In recent years, he has been covering the financial markets along with company news for an investor-focused web portal. His many interests include politics, energy and the environment. He lives in Dorset.

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