- Waterstones Owner Among Bidders for The Body Shop
- Elliott Advisors’ Proposal for The Body Shop
- Rapid Auction and Potential Sale of The Body Shop
Elliott Advisors is one of the parties that have made indicative offers for the British cosmetics chain in recent weeks.
The proprietor of Waterstones is among a group of bidders circling The Body Shop after the cosmetics retailer’s Brazilian owner posted a “for sale” sign above the store.
In recent weeks, Elliott Advisors, the investment firm best known for its activist campaigns against the boards of some of the world’s largest corporations, submitted a proposal for The Body Shop.
Elliott’s chances of buying Natura’s network, which has been for sale since 2017, were unclear this weekend.
The auction, which is being managed by Morgan Stanley financiers, is reportedly proceeding swiftly, with Natura hoping to reach a preliminary sale agreement by the end of the following month.
Elliott, a Manchester United Football Club auction pioneer, has become a more active private equity investor.
It owns the book retailers Barnes & Noble and Waterstones and has supported the fashion accessories retailer Claire’s.
This year, the company was also among the contenders for Cineworld, the financially troubled cinema operator.
The British high street company Body Shop was created in 1976 by environmental activist Anita Roddick and her husband Gordon.
L’Oreal held it before selling it to Natura, but it struggled to grow profitably.
