Body Shop Sold Out

Anita Roddick's world-famous ethical The Body Shop chain is in the hands of the French cosmetics giant L'Oréal after a deal was agreed worth £652m.

L'Oréal, the world's biggest cosmetics company, who are part-owned (25%) by Nestlé, the world's biggest food company, agreed to pay 300p a share for stock worth 268p a share.

After 30 years of selling ethically-sourced cosmetics with 2000 stores in 53 countries, Dame Roddick and her husband, who still hold an 18% share in The Body Shop, are expected to make around £140m out of the sell-out.

Apparently The Body Shop brand will remain "intact" and allegedly continue to run independently, though what the ethical consumer will think of this takeover remains to be seen.