Serruya Private Equity to acquire The Body Shop Canada – Global Cosmetics News

THE WHAT? Serruya Private Equity has agreed to buy The Body Shop Canada. Financial terms of the deal were redacted from the court documents but the same papers reveal that The Body Shop Canada owes some CAD$11.5 million and CAD$12.5 million to its creditors.

THE DETAILS According to a report published by BNN Bloomberg, Serruya was one of four bidders for the Canadian branch of the ethical beauty retailer. It has agreed to enter into a franchise agreement with current owner Aurea prior to taking ownership.

THE WHY? Neither The Body Shop Canada or Serruya Private Equity responded to requests for comment when contacted by Bloomberg. However, its well documented that The Body Shop has had a rocky year.