The competition to acquire The Body Shop has broadened after a Chinese healthcare company has entered the ring of possible bidders.
According to Sky News, Renhe Pharmacy Co recently enquired about the £600 million auction of the retailer that was put up for sale by its owner L’Oréal earlier this year.
Other bidders include former Formula One owner CVC Capital Partners and Italian firm Investindustrial, which owns a stake in Aston Martin.
When the cosmetics giant put it up for sale, the initial price tag was at around £850 million. Sky News has suggested this has fallen to around £600 million, possibly because of the chain’s declining sales since it was acquired by L’Oréal.
