The competition to acquire the Body Shop has entered a new chapter after a Chinese healthcare company entered the ring of possible bidders.
According to Sky News, Renhe Pharmacy Co recently enquired about the £600 million auction of the health and beauty retailer that was put up for sale by its French owner L’Oréal earlier this year.
Other bidders for the chain include former Formula One owner CVC Capital Partners and Italian firm Investindustrial, which owns a stake in Aston Martin.
L’Oréal acquired the British chain founded by the late Anita Roddick in 2006 for £650 million.
When the cosmetics giant put it up for sale, the initial price tag was at around £850 million.
Sky News suggests this has fallen to around £600 million, possibly because of the chain’s declining sales since it was acquired by L’Oréal.
Body Shop operates 3000 stores around the world.