According to reports in The Times, the move follows a number of unsolicited approaches in the last year and is expected to attract a lot of interest from rival firms and private equity funds. Duke Street is said to have appointed Goldman Sachs to run the auction.

Simple is the UK’s biggest manufacturer of products for sensitive skin and the third largest skincare business.

Duke Street bought Simple's former parent company, Accantia, from ABN Amro Capital in 2004 for £225 million. According to The Times, in 2006 tampon brand Lil-lets was carved out of Accantia and sold to Electra, another private-equity firm, for £80 million.

Simple was manufactured by Albion Group before being taken over by Smith & Nephew in 1986. Smith & Nephew sold to ABN Amro Capital in 2000.

Last year the company’s sales increased 11 per cent to £61 million. 2008 operating profit reportedly rose 10 per cent to £21 million.