Orlando Capital has joined the running to snap up The Body Shop, according to Retail Week.
The news comes after the cosmetics retailer’s parent company Natura & Co put the business up for sale in September, as the group sought to return to stable ground after posting six consecutive quarters of losses.
Natura bought The Body Shop in 2017 from previous owner L’Oréal but has struggled to maintain its profitability.
The private equity firm joins Aurelius Group, Alteri Investors and Elliott Advisors in the race to purchase the brand, a source close to the negotiations reports.
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
However, they said the company’s interest was “odd” since it has no experience working with retail brands or retail investments.
Earlier this month, Natura & Co set the final deadline for The Body Shop bids as October 23.
It came after no formal offers were submitted for the retailer during the first round of non-binding bids, which expired on September 11.