The Body Shop acquired out of administration

British ethical beauty brand The Body Shop has been rescued from administration by a consortium led by British tycoon Mike Jatania, safeguarding around 1,300 jobs.

Jatania’s investment firm Auréa said it has secured the British retailer for an undisclosed sum, securing the brand’s 113 stores in the UK, as well as its assets in North America and Australia.

Jatania will serve as executive chairman of the company, while Charles Denton, the former chief executive of Molton Brown, will become chief executive officer.

Commenting on the deal, Jatania, co-founder of Auréa, said in a statement: "With The Body Shop, we have acquired a truly iconic brand with highly engaged consumers in over 70 markets around the world.

“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."

Charles Denton, chief executive of The Body Shop, added: "We recognise that revitalising the business will require bold action and a consumer-centric, commercially agile mindset. We believe there’s a sustainable future ahead and working closely with the management team we aim to restore The Body Shop’s unique, values-driven, independent spirit.”

The Body Shop was founded in 1976 by Anita Roddick and is known for its cruelty-free fairtrade, natural ingredient-based bath and body, skincare, fragrance, hair care, make-up and gifting. It was sold by Brazilian beauty group Natura &Co in November 2023 to international private equity group Aurelius before falling into administration in February 2024.