Revolution Beauty reviews ‘a number’ of takeover offers

Revolution Beauty is currently reviewing takeover bids it has received from “a number of” interested parties after putting itself up for sale last month.

The beauty brand said it was evaluating the offers but that there was “no certainty” a full offer would be made.

It emerged this week that Frasers Group, which has stakes in the LookFantastic owner THG, is participating in the sale process.

In an update to the markets on Thursday (12 June), the brand said: “The board of the company confirms it has received proposals from a number of parties, which the board, together with its financial adviser, is currently evaluating and which may then result in further access to diligence materials being granted.

“Current discussions may be altered or terminated at any time and, accordingly, there can be no certainty that an offer will be made for the company, nor as to the terms on which any offer may be made.

“In addition, the company continues positive engagement with its shareholders, including in respect of an equity raise, and is making encouraging progress on its cost structure and go to market strategy.”

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