UK-based retailer Frasers Group has officially stated that it will not pursue an acquisition of cosmetics company Revolution Beauty.
The update follows a previous notice regarding Frasers’ involvement in the formal sale process.
In a statement to the London Stock Exchange, Frasers declared that “the group and any person(s) acting in concert with it will, except with the consent of the Takeover Panel, be bound by the restrictions contained in Rule 2.8 of the code.”
Revolution Beauty has indicated that it remains in discussions with several other potential buyers, though there is no certainty that any offer will materialise or under what terms.
Revolution is also engaging with its shareholders about a possible equity raise, with further updates to be announced.
In early June 2025, Frasers confirmed its interest in an all-cash bid for Revolution Beauty and had been part of the sale process.
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By GlobalDataRevolution employs a strategy that encompasses multiple brands and categories, distributing its products directly to consumers through its brick-and-mortar stores and online platforms, and via wholesale partnerships.
In May, Frasers disclosed the completion of its acquisition of Holdsport, following the fulfilment of standard regulatory requirements. The initial announcement of the acquisition plan took place on 26 November 2024.
The group also provided an update regarding the compulsory offer for XXL ASA, stating that “preliminary results indicate that Frasers has received acceptances that will result, on settlement and completion of the offer, in Frasers controlling more than 92% of the share capital and 90% of the voting shares of XXL”.
