The Body Shop has secured another high-profile investor as a potential buyer with billionaire Andrea Bonomi making it into the final group.
The Italian tycoon’s company Investindustrial has reportedly been shortlisted with other bidders like CVC Capital Partners, South Koreas’s CJ Group and former DFS owner Advent International.
Bonomi owns a 37.5 per cent stake in luxury car manufacturer Aston Martin, as well as having previously owned Italian motorcycle company Ducati.
L’Oréal, which announced it was putting the Body Shop up for sale in February, is reportedly looking for bids in the region of £850 million.
Sources have stated that the price tag is “wildly optimistic”, with banking giant Goldman Sachs issuing a bid well below the asking price at £600 million.
The retailer employs around 22,000 people and boasts an estate of 3000 stores in 66 countries.