L'Oreal thinks Britain's Body Shop may be worth it

24th February 2006, Comments 0 comments

LONDON, Feb 23, 2006 (AFP) - French cosmetics group L'Oréal signalled Thursday it was considering making a bid for British health and beauty chain Body Shop, a group with 1,900 outlets worldwide and a reputation for selling ethically produced hair and skin products.

LONDON, Feb 23, 2006 (AFP) -  French cosmetics group L'Oréal signalled Thursday it was considering making a bid for British health and beauty chain Body Shop, a group with 1,900 outlets worldwide and a reputation for selling ethically produced hair and skin products.

In a statement to the stock exchange, L'Oreal said its management was considering "a possible offer for Body Shop", adding that any offer would be made in cash.

The statement added: "However, no decision has been made regarding any offer ... and no approach has been made to Body Shop."

A spokesman for L'Oreal later denied that the French group was preparing a bid.

On the London stock exchange, shares in Body Shop surged more than 13 percent, valuing the group at 600 million pounds (EUR 876 million). In late afternoon trading, shares were 11.03 percent higher at 274.25 pence.

Body Shop is well known for its opposition to testing beauty products on animals. The corporate website of the company says that testing products or ingredients on animals is "morally and scientifically indefensible".

The group was founded in 1976 by Gordon and Anita Roddick, but the couple have been reducing their holdings and own only 18.2 percent of the group at the present time.

The company has 1,900 outlets in 50 countries and claims that it "introduced a generation of consumers to the benefits of a wide range of best sellers from Vitamin E Moisture Cream to the Tea Tree Oil range and Banana Shampoo".

Copyright AFP

Subject: French news

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