Private equity investor Aurelius Group is in pole position to snap up The Body Shop from its parent company Natura.
The group has entered exclusive negotiations to purchase the cosmetics retailer, after Natura put the business up for sale in the summer.
A deal is expected to be done in the next month, banking sources reported at the weekend.
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The potential deal is expected to value the beauty and skincare company at a lower price than the £400m – £500m indicated by some media reports, according to Sky News.
Rival private equity companies bidding for The Body Shop are thought to have included Alteri Investors, Epiris and Elliott Advisors.
Natura paid over £1bn for the cosmetics brand back in 2017, and is eager to finalise a deal before the end of 2023.
Earlier this month, it gave interested parties until October 23 to submit their offers to buy the ethical beauty retailer.
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