Dame Anita Roddick, founder of Body Shop, was in the US yesterday, not on business but to pursue a campaign to free the "Angola Three", a group of African American prisoners still in solitary confinement after 30 years. Meanwhile, on this side of the Atlantic, the ethical beauty chain she launched 30 years ago was being eyed up for an audacious takeover attempt by the world's biggest cosmetics manufacturer.
Dame Anita was unaware that L'Oréal, the Paris-based beauty products conglomerate, had admitted it was planning a £600m bid for the Littlehampton-based business she founded as a socially conscious alternative to the global beauty industry.
There have been rumours about a bid for Body Shop for some time, particularly since it admitted it had failed to meet its sales targets over Christmas. But yesterday's statement from L'Oréal still took retail experts by surprise.
The two companies could hardly be more different. L'Oréal is a global corporation that sells £50-a-jar anti-wrinkle cream with the slogan Because I'm Worth It. Body Shop is a right-on retailer specialising in natural products, whose founder rails against what she sees as the misery created by body and beauty fascism.
The French cosmetics giant was forced into making its interest public after a sharp rise in the Body Shop share price on Wednesday. Yesterday, it reached a 14-year peak of 280p on news of the surprise approach, before closing at 265p.
In a brief statement, L'Oréal said its management was "continually evaluating a wide range of strategic alternatives that may add value to its shareholders, including a possible offer for Body Shop. Any offer, if made, is likely to be solely in cash". It said no decision had been made and no approaches had been made to Body Shop. Last night the high street chain said it had not received any proposal from L'Oréal and was confident about its prospects.
L'Oréal's interest in Body Shop mirrors the trend for larger, mass-market companies to take over higher-value premium brands, such as Cadbury Schweppes' takeover of the Green & Black's organic chocolate business or Unilever's purchase of Ben & Jerry's ice cream company.
Perhaps Britain's best-known businesswoman, Dame Anita has never been afraid of airing her views, and it will not have escaped L'Oréal that she has been fiercely critical of them in the past. Along with the history of the Angola Three, Dame Anita's website details her outraged reaction a couple of years ago to L'Oréal's apparent policy of employing only "sexy" saleswomen on its counters. Under the heading, Because You're Not Worth It, she railed against the global beauty business. "Does the beauty industry hate women? I've been saying so for years. That L'Oréal is being sued for attempting to fire a saleswoman in California for not being 'hot' enough only confirms it yet again."
The attitude of Dame Anita and her husband Gordon to any takeover will be decisive, as will that of Dame Anita's early backer, Ian McGlinn, a former garage owner who lent her £4,000 to open her second store in Sussex and is now Body Shop's biggest single shareholder.
While the Roddicks took a back seat from day-to-day management some years ago after profits growth slowed in the face of competition from the supermarket groups, they retain a key 18% stake in the company. Mr McGlinn, who lives in the tax haven of Monaco, holds a further 22.6% of the shares, now worth £120m.
Some City analysts were sceptical that the bid could succeed, even if the Roddicks or McGlinn were to agree, citing the huge differences in approach of the two companies. But others noted that Body Shop has recently moved upmarket to distinguish its products from those offered by the supermarkets. "It isn't the wacky ethical business it once was," said one.
Dame Anita has said she has no plans to sell her shares, but she and her husband have reduced their holdings in the past couple of years. She has also said she will not leave her wealth to her children, preferring to use it to pursue her campaigns around the world. She may welcome the cash for her shares to promote those causes, particularly if L'Oréal were to promise to retain the Body Shop ethos.
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Celebrity faces Natalie Imbruglia, Milla Jovovich, Beyoncé Knowles, Claudia Schiffer
Advertising "Because I'm worth it" (Jennifer Aniston, Andie MacDowell)
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They say "You are a woman. Cellulite is your partner in life" (Anita Roddick)
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Celebrity faces None. Unless you count Roddick
Advertising None