Beauty Bay abandons IPO plans, could now opt for sale - report
Manchester-based beauty platform Beauty Bay has appointed bankers from Threadstone Capital to look at its options and could choose to put itself up for sale, a report said on Tuesday. That would be a big strategy change for the 20-year-old business that only last year had been planning an IPO instead.
Founded by brothers Arron and David Grabbie, Sky News cited City sources saying Beauty Bay was “examining a full or partial sale to new investors”, although the option of it expanding by acquisition is also on the table.
An insider also said current trading was better than in the immediate pre-pandemic period but that it hasn’t been immune to inflationary headwinds.
The company is believed to be debt-free and is likely to have fully ruled out plans for a stock exchange listing.
It’s not known how much it would be valued at but it clearly has advisors who know how to get maximum value for a business. The news report also said it has taken on Threadstone because of the work it did in the same advisory role for Cult Beauty last year wen it was sold to THG.
Beauty Bay — which is known for selling sometimes-hard-to-find brands — hasn’t commented on the report.
Copyright © 2023 FashionNetwork.com All rights reserved.