Perth entrepreneur Andrea Horwood has launched legal action against supermodel Elle Macpherson accusing The Body and other investors of freezing her out of the company, WelleCo.

Ms Horwood, who also founded the Invisible Inc sunscreen brand, claims her friend, Macpherson, who was the face of the plant-based dietary supplements company, and businessman Rod Jones, pulled out of a deal that would have allowed her to buy a larger stake in WelleCo.

She claimed the pair agreed to allow her to buy shares that previously belonged to her estranged husband, Adil Bux but instead prevented that from happening, Fairfax reported.

Ms Horwood launched the legal action as a result.

According to Fairfax, Ms Horwood was also sacked as the company’s chief executive in November and has also launched legal action for wrongful dismissal.