The Body Shop attracts interest from CVC; former L’Occitane managing director Jacques Osti working with CVC - report
The Body Shop International’s auction has attracted interest from the private equity firm CVC Capital Partners, according to a Sunday Times report. The newspaper said former L’Occitane [HKG: 0973] managing director Jacques Osti is leading the CVC bid, but did not cite a source for the information.
L’Oreal [EPA:OR], the French cosmetics company that owns The Body Shop, announced last month that it was considering strategic options for the UK-based cosmetics company. The Financial Times reported on 8 February that L’Oreal had hired the investment bank Lazard to advise on a potential sale of The Body Shop.
CVC is working on a GBP 850m (EUR 968m) bid for The Body Shop, The Sunday Times item said.
The private equity firms Advent International and Apax Partners are among the parties interested in buying The Body Shop, according to the newspaper.
The report went on to cite City sources who said some prospective bidders had been deterred by The Body Shop’s international partnerships, which make gauging the business’ overall strength difficult.
Link to The Times Article