Aurelius Group Joins Bid for The Body Shop

Aurelius Group, the owner of Lloyds Pharmacy, has joined the race to buy The Body Shop, the UK sustainable cosmetics retailer, according to reports on Tuesday.
Since the Brazilian cosmetics maker Natura &Co. put The Body Shop up for sale last month, a number of suitors have already emerged, including Elliott Advisors, the private equity firm that owns Waterstones.
The Body Shop also caught the eye of Epiris, the private equity firm that used to own TGI Fridays and Bella Italia, as well as Alteri Investors, the private equity firm that owns Benson for Beds.
The Body Shop, which is estimated to be worth around $511 million, has struggled to maintain profitable growth in recent years, but it remains a cornerstone of many UK high streets, with around 10,000 employees and close to 3,000 stores in 70 countries. After six consecutive quarters of losses, Natura’s goal is to deleverage in a bid to bring back profitability.
In April, David Boynton stepped down as The Body Shop’s Chief Executive, and Ian Bickley, a Natura &Co Board Director, took the helm as interim CEO.

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