Revolution Beauty receives preliminary takeover offer amid business review

Revolution Beauty has confirmed that it has received a preliminary offer for its entire issued and to be issued share capital.

The proposal comes amid a review of its funding structure which began earlier in May when it announced that its key shareholders had backed an equity raise.

The British beauty brand has now enacted a formal sale process, advised by Panmure Liberum, widening its strategic options.

Additional parties will be able to register their interest by June 11. The initial bidder has agreed to participate in the formal sale process.

To support the sale, Iain McDonald will be appointed non-executive chair, upon completion of due diligence checks, succeeding Alistair McGeorge, who is to stand down from the board.

Notably, McDonald currently serves as a non-executive director of Debenhams Group (formerly Boohoo Group), a majority shareholder of Revolution Beauty.

The fashion chain had enacted a boardroom takeover of Revolution Beauty back in 2023 after the company faced an investigation into its financial results, which revealed a nine million pound inflation of sales.

Debenhams Group then challenged Revolution’s leadership, initiating the leadership takeover plan by submitting its own line up of executives to step into the positions of existing board members.