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Body Shop owner Natura and Co has announced that interested parties have to submit their final bids by 23 October 2023, according to Retail Week.
It revealed that Morgan Stanley will be handling Body Shop’s sale on behalf of Natura and Co and has set a final deadline to get the sale process moving.
The news comes after the first round of non-binding bids expired on 11 September 2023.
Earlier this week it was reported that Lloyds Pharmacy owner Aurelius Group had joined Waterstones owner Elliott Advisors and private equity firm Epiris in the race to acquire the company.
It is unclear whether Bensons for Beds owner Alteri Investors is still interested in acquiring The Body Shop.
However, private equity firms interested in acquiring The Body Shop are reportedly being put off by owner Natura and Co’s high valuation.
The Brazilian company is asking for between £400-£500m to part with the health and beauty retailer.
Natura put The Body Shop up for sale last month following its sale of Aesop to L’Oreal for £2bn in April.
