Bid for The Body Shop
The former CEO of L'Occitane, Emmanuel Osti, is reported to be leading a takeover bid for The Body Shop with the backing of CVC Capital Partners. L'Oreal has suggested a value of £850 million for the business which it paid £652 million for in a sale orchestrated by the late Dame Anita Roddick. With some 3000 retail outlets including concessions and an in-home party plan operation as well as online trading, The Body Shop has had flagging sales of late and lost much of its differentiation. Osti is seen by many as being a strong potential saviour for the brand.