UK-based retailer Frasers Group has confirmed a potential all-cash bid for cosmetics company Revolution Beauty and involvement in the official sale process initiated on 21 May 2025.
Both companies acknowledged the media speculation concerning the engagement.
Go deeper with GlobalData
Revolution Beauty stated that Frasers is among several entities performing due diligence within the context of the sale process. It is not guaranteed that Frasers’ involvement will lead to a definitive offer.
A statement from Revolution Beauty continues: “Further updates will be provided if and when appropriate. Shareholders are advised to take no action at this time. The person responsible for arranging this announcement on behalf of the company is Neil Catto, chief financial officer.”
Frasers stated: “There can be no certainty that an offer will be made for Revolution Beauty nor as to the terms on which any offer might be made. A further announcement will be made as and when appropriate.”
The cosmetics company has been struggling and faced a significant loss in market value following a settlement with its co-founder Adam Minto. It is currently valued at £23.1m ($31.3m), according to London Stock Exchange Group data cited by Reuters.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe company disclosed on 13 May 2025 that it is reassessing its capital funding strategy and engaging with major shareholders to discuss potential support for a capital increase.
Revolution Beauty has invited other potential buyers to consult with its financial advisors, Panmure Liberum and Zeus Capital, both of which are regulated by the UK Financial Conduct Authority.
To assist with the sale, Iain McDonald, a City executive with a directorship at Debenhams Group, has been appointed as chairman of Revolution Beauty. Debenhams, holding a substantial minority stake in Revolution Beauty, is closely linked to Frasers, which is a major shareholder in Debenhams.
Frasers Group holds ownership of retail brands House of Fraser, Sports Direct and Flannels, and holds shares in Asos, Hugo Boss and boohoo Group.
