THE Body Shop has received a takeover approach.

The group, which produces environmentally friendly cosmetics and toiletries, said it had received an approach from a third party which could lead to an offer being made.

Body Shop said that talks were at a very early stage and there was no assurance that an agreement would be reached.

The announcement follows a report in the Wall Street Journal that Mexican company Grupo Omnilife, which sells direct-to-customer nutritional supplements, had reached a preliminary agreement to buy Body Shop.

The approach is thought to value the British company at about £362m.

Body Shop, founded in 1976 in Brighton by Anita Roddick, now has more than 1,800 stores worldwide, 315 of them in the UK.

In the 1980s, the group floated on the London Stock Exchange, and it is now run by chief executive Patrick Gournay.

Ms Roddick is co-chairperson of the business, with her husband Gordon Roddick, and is responsible for the "creative inspiration behind the company's style and image".

She owns a 12.4 per cent stake in the business, while Mr Roddick has a 12.5 per cent stake.

Yesterday's approach comes a month after Body Shop announced a dive in full-year profits following mistakes with new products. Pre-exceptional profits for the year to March 3 fell to £25m, compared with £31.5m.

Body Shop has in the past seen speculation that Lush, the natural cosmetics retailer, was considering a bid.

In March, it was thought that Lush was preparing to make a £175m bid for the company.