Emmanuel Osti, a former Executive Director of French skin care brand L’Occitane, is reported to be working on an £850m bid for The Body Shop.
According to The Times, Osti is working with CVC Capital Partners on a potential offer for the high street cosmetics retailer, currently owned by L’Oréal.
Osti, who served as Group Managing Director and Executive Board Director of L’Occitane, resigned in January 2015 due to personal reasons.
Osti joined L’Occitane in 2000, prior to which he held roles at Johnson & Johnson, Duracell and L’Oréal.
Holding the role of Product Manager, Osti worked at L’Oréal for over three years in Paris.
CVC Capital Partners, which did not respond for comment, currently has German beauty retailer Douglas among its current portfolio.
In the past, CVC has invested in UK-based Beauty International Fragrances; Denmark-based beauty retail chain Matas; and Li & Fung Distribution, based in Hong Kong.
The Body Shop was put up for sale in February, ten years after L’Oréal acquired the brand founded by Dame Anita Roddick for £652m.
Other bidders said to be interested in buying The Body Shop include Apax Partners and Advent International, the Sunday Times reported.