Specialist beauty retailer The Body Shop has been sold to private equity group Aurelius.
The deal values The Body Shop at £207m, including an earnout of £90m.
Founded by pioneering entrepreneur Anita Roddick in 1976, The Body Shop has underperformed in recent years under the control of Brazilian retailer Natura &Co, which put it up for sale earlier this year.
Aurelius said the acquisition would bring the “opportunity to re-energise an iconic global beauty and personal care brand with impressive consumer recognition”.
Aurelius partner Tristan Nagler said: ”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.
”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 said: “Today, we celebrate 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. 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. 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.”
The Body Shop employs around 7,000 people, runs 900 company-owned stores in 20 countries and has partnerships with head franchisees that operate 1,600 franchised stores in another 69 geographies.
Aurelius also owns retailer Footasylum.
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