L’Oréal mulls Body Shop buy
This article was originally published in The Rose Sheet
Executive Summary
French beauty giant reveals it is considering acquisition of British beauty retailer in Feb. 23 statement, noting "L'Oréal's management is continually evaluating a wide range of strategic alternatives that may add value to its shareholders including a possible offer for Body Shop." However, "no decision has been made regarding any offer, [the] L'Oréal Board has not been consulted and no approach has been made to Body Shop," firm adds. Incoming L'Oréal CEO Jean-Paul Agon indicated acquisitions will be a key part of the company's growth strategy going forward in a Feb. 16 year-end earnings call (1"The Rose Sheet" Feb. 20, 2006, p. 9). The Body Shop, which was founded in 1976 by Anita Roddick, markets cruelty-free, earth-friendly beauty and personal care in more than 2,000 standalone stores in approximately 50 countries. News of potential acquisition drove Body Shop International stock, which trades on the London Stock Exchange, to a high of 280.06 pence Feb. 23 before closing the day at 265...
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