The battle for ethical beauty retailer The Body Shop intensified today as South Korea’s CJ Corp revealed it is considering a bid.
CJ Corp, behind food-to-entertainment conglomerate CJ Group, said it was looking at The Body Shop but had not yet decided what action it would take.
Cosmetics giant L’Oréal said in February it was exploring “all strategic options” for The Body Shop and has reportedly sent out information about the 41-year-old company, founded by the late environmental campaigner Dame Anita Roddick, to potential bidders.
L’Oréal was hoping for a price tag of close to €1 billion (£856 million), but it is thought offers will be nearer €700 million.
L’Oréal bought The Body Shop, which struggled in recent years amid intensifying competition from the likes of Lush, for £652 million in 2006.
The sale has attracted the attention of private equity, with CVC Capital Partners, Apax Partners and Advent International, and Goldman Sachs among those linked with the deal.
L’Oréal declined to comment.
