Lloyds Pharmacy owner joins race to snap up The Body Shop
The owner of Lloyds Pharmacy has become the latest name to enter the race to acquire cosmetics retailer The Body Shop.
Germany-based asset management firm Aurelius Group is reportedly eyeing a bid for the retailer, Sky News has reported.
It joins Bensons for Beds owner Alteri Investors, former Hotter Shoes owner Epiris, and activist investors Elliott Advisors as names touted for a takeover.
Brazilian company Natura, which has owned The Body Shop since 2017, placed the retailer on the market earlier this year.
The auction, which is being handled by Morgan Stanley, is proceeding quickly with Natura looking to reach a provisional agreement on a sale by the end of October, City sources previously told Sky News.
Prior to its sale to Natura, The Body Shop was owned by L’Oreal, but has since struggled to achieve profitable growth. It has grown rapidly in recent years through acquisitions, but has posted losses for six consecutive quarters.
The business was previously valued at £406m.