Tycoon Mike Jatania-Backed Consortium Nears Deal for Body Shop

A consortium led by British tycoon Mike Jatania is nearing a deal to buy struggling UK cosmetics retailer The Body Shop out of administration, people with knowledge of the matter said.

Aurea Holding, an investment firm that Jatania runs with former UBS Group AG banker Paul Raphael, is in exclusive talks to acquire The Body Shop after beating rival bidders in an auction process, according to the people.

The consortium also includes Charles Denton, who was previously chief executive officer of fragrance and beauty brands Molton Brown and Erno Laszlo, the people said. The new owners plan to retain ...