The Body Shop has signed an exclusive rescue agreement with a consortium led by the Auréa group, according to Reuters.
Founded by British cosmetics tycoon Mike Jatania, Auréa is an investment company that focuses on beauty and personal care products.
Auréa and The Body Shop’s administrator FRP Advisory released a joint statement confirming that after a competitive bidding process, Auréa is conducting due diligence. The deal is expected to be completed in the summer.
Ecovia Intelligence Comment: The Body Shop has been given a lifeline. The pioneering brand ran into financial difficulties after it was acquired by private equity firm Aurelius in November 2023. Since February, 82 stores have closed and 489 retail and 270 office positions have been axed. It is hoped the new owners can revamp the business so it can once again become a sustainability frontrunner.
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