15 bids reportedly placed for L'Oréal's The Body Shop

By Lucy Tandon Copp 12-Apr-2017

Around 15 private equity firms and companies have put forward bids for The Body Shop, reports Bloomberg Markets

L’Oréal is thought to be in the process of shortlisting bidders for the acquisition of The Body Shop, according to Bloomberg Markets.

People familiar with the matter are reported to have said that around 15 private equity firms and companies have made bids for the ethical cosmetics brand.

CVC Capital Partners, Carlyle Group and South Korea’s CJ Group were all named as bidders, building on earlier reports of the interest of these companies.

L’Oréal did not respond to enquiries.

The Body Shop was put up for sale in February, ten years after L’Oréal acquired the brand founded by Dame Anita Roddick for £652m. The Body Shop is now seeking approximately £851m for the ethical cosmetics brand.

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In the company's 2016 annual result statement released in February, Jean-Paul Agon, Chairman and CEO of L'Oréal, stated: "As part of this brand portfolio optimisation, it has been decided to explore all strategic options regarding The Body Shop's ownership in order to give it the best opportunities and full ability to continue its development. No decision has been taken so far."