The south Korean CJ Group enters the bid for The Body Shop – Modaes Latin america

La surcoreana CJ Group entra en la puja por The Body Shop

The bid for The Body Shop has a new interested. The south Korean company CJ Group, whose portfolio of services includes the industries of food, pharmaceutical and communication, has notified the supervisory body of the financial of his country, which is examining the potential purchase of The Body Shop. The cosmetics company, owned by L’oréal, which is on sale from February.

CJ Group is added as well to the arm investor Goldman Sachs, which joined the bid for The Body Shop this week with an offer of 600 million pounds (747,3 million dollars) for their acquisition, according to WWD.

L’oréal began to probe the sale of the chain in February of this year by a value of between 850 and 1,000 million euros (1.066 million). The giant French acquired the company, which operates 3,000 stores in 66 countries, a decade ago, for 652 million pounds (812 million dollars).

In the bid for the chain of cosmetic, brokered by Lazard, have participated Emmanuel Osti, former ceo of L’occitane, along with the fund CVC Capital Partners for 350 million pounds (435,9 million) and the venture capital funds Advent International, Apax Partners or Carlyle.

The company of natural cosmetics recoiled in 2016, a 6.3%, to 321 million euros (342,2 million). In 2015, The Body Shop recorded a decline of 0.9% of sales for the surface comparable.


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