Serruya Private Equity to Acquire The Body Shop Canada
Serruya Private Equity has agreed to acquire The Body Shop Canada. The financial terms of the deal have been redacted from court documents, but the same documents show The Body Shop Canada owes creditors about $11.5 million and $12.5 million.
BNN Bloomberg reports that Serruya is one of four bidders for the ethical beauty retailer’s Canadian unit. The company has agreed to a franchise agreement with current owner Aurea before the acquisition.
Neither The Body Shop Canada nor Serruya Private Equity responded to requests for comment. However, there is ample evidence that The Body Shop has had a tough year.
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