GROWTH capital firm Aurea on Saturday announced the completion of its acquisition of UK-based cosmetics group The Body Shop, renowned for ethical hair and skin products.
The 50-year-old business entered administration in February, which led to FRP Advisory being brought in to try to salvage part of the group.
Soon after, The Body Shop announced it would shut almost half of its 198 stores in Britain. On collapsing, it employed about 1,500 staff across its UK stores, and a total 7,000 worldwide.
'This investment demonstrates Aurea's focus on backing purpose-led and differentiated brands in the Beauty, Wellness and Longevity sector and represents its largest transaction to date,' Aurea said in a statement.
Remaining stores are expected to continue trading under the new deal.
