The brand’s 113 remaining UK stores are set to continue operating under new leadership.

The Body Shop has been successfully rescued from administration in a deal led by British entrepreneur Mike Jatania. Under the acquisition, the ethical beauty brand’s 113 remaining UK stores are set to stay open, with no immediate closures planned. The deal, which marks Aurea’s largest transaction to date, was completed on Saturday, and will see Jatania and Charles Denton, former CEO of Molton Brown, take the helm of the new leadership team.

Jatania’s investment firm, Aurea, expressed its commitment to steering the revival of the Body Shop, aiming to restore its position as a global leader in the ethical beauty sector it pioneered. The firm’s statement highlighted their intention to focus on product innovation and enhancing the customer experience across various channels.

The Body Shop, founded in 1976 by Dame Anita Roddick in Brighton, has long been known for its cruelty-free and Fairtrade products. The company entered administration earlier this year, after projections regarding its funding needs fell short. Following the administration, hundreds of jobs were expected to be lost, and numerous stores were anticipated to close. However, this acquisition deal has prevented these outcomes, securing jobs and continuing the brand’s legacy.

Jatania, who previously ran Lornamead and sold it to Li & Fung for £155 million, stated, “With the Body Shop, we have acquired a truly iconic brand with highly engaged consumers in over 70 markets worldwide.” He added that the brand would remain focused on its ethical and activist roots while investing in future growth.

Charles Denton, the new CEO of the Body Shop, shared confidence in the brand’s future, affirming that the management team would work together to restore its independent, values-driven spirit.