Elliott among The Body Shop suitors as October sale looms

By

Nigel TAYLOR

Published
Sep 18, 2023

A host of bidders are ready to buy The Body Shop after Brazilian beauty giant Natura signalled this summer it’s ready to sell the ethical international beauty retailer.

Among them could be Elliott Advisors, the activist investment firm, according to Sky News. Elliott has declined to comment.

City sources said the auction, which is being handled by bankers at Morgan Stanley, “was proceeding at pace”, with Natura, which has owned the brand since 2017, said to be keen to reach a provisional agreement on a sale by the end of October.

In August it emerged Natura was exploring options for The Body Shop, including a possible sale as growth at the near-50-year-old business remaining elusive. Net sales in Q1 fell over 9% and the unit’s CEO having stepped down suddenly a few months ago.

The Body Shop was founded in 1976 by the environmental campaigner Anita Roddick and husband Gordon. It employs around 10,000 people and has 3,000 stores in 70 countries and retains a big presence on the British high streets. But the area of ethical and sustainable beauty in which it was once a pioneer is now very crowded and it has struggled to stand out in recent years.