Ethical beauty brand, The Body Shop, has been sold to a private equity firm for a fraction of the price paid for it in 2017.

The retailer, which has stores in Cheltenham, Gloucester and Cirencester, was snapped up by Aurelius for £207m.

The equity firm also owns Lloyds Pharmacy, as reported by This is Money.

Previous owner, Natura & Co, paid £870m for The Body Shop in 2017

The cruelty-free retailer has seen a decline in sales in recent months. But Aurelius has pledged to 're-energise' the brand, which has lost some of its competitive edge since other beauty brands started adopting more ethical practices.

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