Aurelius Group has officially announced the acquisition of The Body Shop in a cut-price deal valuing the British high-street beauty products chain at £207 million.
The announcement comes two weeks after The Body Shop’s current owner, the Brazillian cosmetics conglomerate Natura, confirmed exclusive talks of a sale with European private equity firm Aurelius.
The deal represents a significant discount to the £880 million that Natura paid for The Body Shop when it purchased the chain from L’Oreal in 2017.
“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,” commented Tristan Nagler, a partner at Aurelius.
The Body Shop’s chief executive Ian Bickley called the deal “a truly historic moment for The Body Shop as we join forces with Aurelius to begin a new chapter, allowing us to continue building the relevancy of this global brand for future generations”.
“With a presence in over 80 countries, The Body Shop is not only a beauty brand, but also an iconic social business that has captured hearts in nearly every corner of the world,” he added.
Aurelius Group also owns Footasylum and Lloyds Pharmacy.