Aurea Acquires The Body Shop After Administration

Growth capital firm Aurea has completed its acquisition of UK-based cosmetics group The Body Shop, which entered administration in February due to financial struggles, leading to the closure of nearly half of its 198 UK stores. The acquisition secures the future for approximately 1,300 workers and includes The Body Shop's assets in Australia and North America. Founded in 1976 by Anita Roddick, the brand is renowned for its ethical stance against animal testing and has faced challenges in a competitive market since being sold to L'Oreal in 2006. Aurea intends to focus on product innovation and enhancing customer experiences while maintaining the brand's ethical values. The deal represents Aurea's largest transaction to date, and new leadership will be provided by Mike Jatania as Executive Chairman and Charles Denton as CEO. The company previously owed more than £276 million to creditors before the acquisition.