The Body Shop has been rescued from administration, saving over 1,000 jobs.
Retail tycoon Mike Jatania’s Auréa consortium has fully acquired the embattled British brand and plans to keep 113 stores open without further plans for closures.
Jatania entered into an exclusivity agreement with the joint administrators of The Body Shop International in July to save the struggling business.
“With The Body Shop, we have acquired a truly iconic brand with highly engaged consumers in over 70 markets around the world,” said Jatania.
“We plan to focus relentlessly on exceeding their expectations by investing in product innovation and seamless experiences across all of the channels where customers shop while paying homage to the brand’s ethical and activist positioning.”
Denton, who leads the management team for Auréa group’s consortium, has been named CEO of The Body Shop.
“Truly honoured and excited to be leading this important brand, working closely with the extraordinarily talented team to build a sustainable future,” Denton wrote on Linkedin.
Jatania also has strong beauty industry experience and is the former CEO of Lornamead, the one-time owner of beauty brands Woods of Windsor and Yardley.
The Body Shop’s UK business collapsed into administration in February 2024 just months after being acquired by private equity firm Aurelius for £207m.
The store closures and job cuts came after a period of financial challenges for The Body Shop, including multiple consecutive quarters of losses with former owner Natura & Co.
In the UK, 197 stores closed as part of its restructuring process.
FRP Advisory was appointed to handle The Body Shop’s insolvency in the UK and launched an auction for the brand in May.
Auréa pulled ahead of rival bidders including Gordon Brothers, the private equity firm behind Laura Ashley.
Modella Capital, part of private equity house R Capital, and Alteri Investors, the owner of Bensons for Beds, had also made bids for the brand.
Cosmetics Business has reached out to Auréa and The Body Shop for comment.
