In August The Body Shop was put up for sale by parent company Nature & Co, after the high street beauty giant failed to achieve a turn-around.
Private equity firm Aurelius Group is currently in negotiations to acquire the chain, as reported by Reuters. This potential transaction may result in a valuation lower than the initially estimated 400 million to 500 million pounds.
In response to The Body Shop’s performance Brazilian cosmetics manufacturer Natura announced in August that its board of directors had authorised an exploration of "strategic alternatives" for its subsidiary. Natura had acquired The Body Shop from L'Oréal in 2017.
The Body Shop's revenue suffered a significant 12 percent decline in the second quarter, following a 9.4 percent drop in sales in the first quarter. Natura had previously implemented staff reductions, said Cosmetics Business.
Earlier in April this year, Natura concluded the sale of its Aesop business to L'Oréal in a transaction valued at 2.52 billion dollars.