Latest news with #RevolutionBeauty
Fashion Network
4 days ago
- Business
- Fashion Network
Revolution Beauty rejects bid from private equity firm True, sources say
By Reuters Revolution Beauty has rejected a takeover offer from specialist private equity firm True, leaving the cosmetics group likely to revive a capital raising from existing shareholders, two people familiar with the matter said. The London-listed makeup and haircare company, whose products retail online and via high street stores including Boots and Superdrug, kicked off a sale process in May, and in June said it had received proposals from a number of parties. True was the only company to submit a bid for the firm, which counts British online fashion retailer Debenhams as its largest shareholder, the people said, asking not to be identified because the talks were private. However, the offer was seen as undervaluing the company, according to one source. Revolution Beauty declined to comment. Debenhams and True did not respond to requests for comment. Mike Ashley's Frasers Group had also explored buying the firm but said last month it had pulled out of the process. Revolution Beauty, founded in Kent in 2014, floated in a post-pandemic listing boom at a valuation of nearly 500 million pounds, but its value subsequently cratered to around 12 million pounds, according to LSEG data. The company is likely instead to revive plans to raise funds from key shareholders if no other bidders materialise, the people said. It told shareholders earlier this year that it was reviewing its funding structure and mulling a fundraise from key shareholders after its annual sales slumped by more than a quarter. Debenhams' participation in any equity raise may hinge on the completion of its own debt refinancing plans, the second person said. In May, Revolution Beauty also said it had begun talks with lenders over amending and extending the terms of its revolving credit facilities. © Thomson Reuters 2025 All rights reserved.
Fashion Network
4 days ago
- Business
- Fashion Network
Revolution Beauty rejects bid from private equity firm True, sources say
Revolution Beauty has rejected a takeover offer from specialist private equity firm True, leaving the cosmetics group likely to revive a capital raising from existing shareholders, two people familiar with the matter said. The London-listed makeup and haircare company, whose products retail online and via high street stores including Boots and Superdrug, kicked off a sale process in May, and in June said it had received proposals from a number of parties. True was the only company to submit a bid for the firm, which counts British online fashion retailer Debenhams as its largest shareholder, the people said, asking not to be identified because the talks were private. However, the offer was seen as undervaluing the company, according to one source. Revolution Beauty declined to comment. Debenhams and True did not respond to requests for comment. Mike Ashley 's Frasers Group had also explored buying the firm but said last month it had pulled out of the process. Revolution Beauty, founded in Kent in 2014, floated in a post-pandemic listing boom at a valuation of nearly 500 million pounds, but its value subsequently cratered to around 12 million pounds, according to LSEG data. The company is likely instead to revive plans to raise funds from key shareholders if no other bidders materialise, the people said. It told shareholders earlier this year that it was reviewing its funding structure and mulling a fundraise from key shareholders after its annual sales slumped by more than a quarter. Debenhams' participation in any equity raise may hinge on the completion of its own debt refinancing plans, the second person said. In May, Revolution Beauty also said it had begun talks with lenders over amending and extending the terms of its revolving credit facilities.
Fashion Network
4 days ago
- Business
- Fashion Network
Revolution Beauty rejects bid from private equity firm True, sources say
Revolution Beauty has rejected a takeover offer from specialist private equity firm True, leaving the cosmetics group likely to revive a capital raising from existing shareholders, two people familiar with the matter said. The London-listed makeup and haircare company, whose products retail online and via high street stores including Boots and Superdrug, kicked off a sale process in May, and in June said it had received proposals from a number of parties. True was the only company to submit a bid for the firm, which counts British online fashion retailer Debenhams as its largest shareholder, the people said, asking not to be identified because the talks were private. However, the offer was seen as undervaluing the company, according to one source. Revolution Beauty declined to comment. Debenhams and True did not respond to requests for comment. Mike Ashley's Frasers Group had also explored buying the firm but said last month it had pulled out of the process. Revolution Beauty, founded in Kent in 2014, floated in a post-pandemic listing boom at a valuation of nearly 500 million pounds, but its value subsequently cratered to around 12 million pounds, according to LSEG data. The company is likely instead to revive plans to raise funds from key shareholders if no other bidders materialise, the people said. It told shareholders earlier this year that it was reviewing its funding structure and mulling a fundraise from key shareholders after its annual sales slumped by more than a quarter. Debenhams' participation in any equity raise may hinge on the completion of its own debt refinancing plans, the second person said. In May, Revolution Beauty also said it had begun talks with lenders over amending and extending the terms of its revolving credit facilities.
Reuters
4 days ago
- Business
- Reuters
Revolution Beauty rejects bid from private equity firm True, sources say
LONDON, Aug 7 (Reuters) - Revolution Beauty (REVB.L), opens new tab has rejected a takeover offer from specialist private equity firm True, leaving the cosmetics group likely to revive a capital raising from existing shareholders, two people familiar with the matter said. The London-listed makeup and haircare company, whose products retail online and via high street stores including Boots and Superdrug, kicked off a sale process in May, and in June said it had received proposals from a number of parties. True was the only company to submit a bid for the firm, which counts British online fashion retailer Debenhams (DEBS.L), opens new tab as its largest shareholder, the people said, asking not to be identified because the talks were private. However, the offer was seen as undervaluing the company, according to one source. Revolution Beauty declined to comment. Debenhams and True did not respond to requests for comment. Mike Ashley's Frasers Group (FRAS.L), opens new tab had also explored buying the firm but said last month it had pulled out of the process. Revolution Beauty, founded in Kent in 2014, floated in a post-pandemic listing boom at a valuation of nearly 500 million pounds, but its value subsequently cratered to around 12 million pounds, according to LSEG data. The company is likely instead to revive plans to raise funds from key shareholders if no other bidders materialise, the people said. It told shareholders earlier this year that it was reviewing its funding structure and mulling a fundraise from key shareholders after its annual sales slumped by more than a quarter. Debenhams' participation in any equity raise may hinge on the completion of its own debt refinancing plans, the second person said. In May, Revolution Beauty also said it had begun talks with lenders over amending and extending the terms of its revolving credit facilities. ($1 = 0.7507 pounds)
Yahoo
20-06-2025
- Business
- Yahoo
Frasers Group steps back from Revolution Beauty bid
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. Revolution 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'. "Frasers Group steps back from Revolution Beauty bid" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
