Monday, January 24, 2022

Another major firm joins bidding race for The Body Shop

A major South Korean company is the latest to enter the ring to acquire The Body Shop.

Food-to-entertainment firm CJ said it was reportedly mulling over an approach, although it has not yet decided whether to make a formal bid for the British cosmetics retailer.

The news comes shortly after investment banking giant Goldman Sachs submitted a £600 million bid for the struggling chain earlier this week.

French cosmetics giant L’Oreal put The Body Shop on sale in February, more than 10 years after taking over the high street brand that was founded by Dame Anita Roddick in 1976.

READ MORE: Goldman Sachs primed for The Body Shop bid

L‘Oreal is believed to have put a €1 billion (£859 million) price tag on the chain.

A raft of other private equity firms have also reportedly expressed interest in purchasing the retailer.

The Body Shop has 3000 stores in 66 countries, employing around 22,000 people.

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