Only three weeks after private equity firm Aurelius acquired The Body Shop, the UK arm filed for administration, with the German business following in short order, filing for bankruptcy in the Düsseldorf District Court.

WHO: Founded in 1976 by the late businesswoman and human rights activist Anita Roddick and her husband Gordon, The Body Shop pioneered ethical consumerism and argued that business could be a force for good. Today, The Body Shop has 10,000 employees across 3,000 stores in about 70 countries and sells skincare, bodycare, and haircare products.

Aurelius is a globally active alternative investment group, distinguished and widely recognized for its operational approach. Its key investment platforms are the fund Aurelius European Opportunities IV and the listed Aurelius Equity Opportunities SE & Co. KGaA. Aurelius focuses on private equity, private debt, and real estate and is a renowned specialist for complex investments with operative improvement potentials such as corporate carveouts, platform buildups, or succession solutions, as well as specialized financing solutions. 

DETAILS:

• The company The Body Shop Germany GmbH submitted a corresponding application to the Düsseldorf District Court on February 14, according to a statement from the court. 
• The company’s German operation employs over 350 staff members and runs 66 branches across the country.
• Düsseldorf lawyer Dr. Biner Bähr was appointed as the provisional insolvency administrator, German newspaper Bild reported.
• On February 13, The Body Shop UK business entered administration, appointing FRP Advisory to oversee the process. 
• An estimated 14% of physical and digital channels of The Body Shop were sold to an international family office. No details were shared, but the deal includes significant portions of the European and Asian business. 
• In November 2022, former brand owner Natura &Co made a deal to sell The Body Shop to the Aurelius Group in a $254 million deal. 
• L'Oréal sold The Body Shop to Natura &Co in 2017 in a $1.1 billion deal.
• Anita Roddick sold The Body Shop to L'Oréal in 2006 for $1.14 billion.