Frasers Group Withdraws Revolution Beauty Offer
Deal News | Jun 19, 2025 | Business Cloud
Frasers Group has announced that it will not proceed with the acquisition of Revolution Beauty, despite initial interest in a cut-price, all-cash deal. Revolution Beauty has seen its stock price decline significantly over the past year, with further drops following this announcement. At its IPO in 2021, the company had a market cap of £500 million, which has decreased to £21.66 million. Despite Frasers Group's withdrawal, Revolution Beauty is continuing discussions with other potential buyers and remains engaged with shareholders about a possible equity raise. Frasers Group, owned by Mike Ashley, has a diverse portfolio of retail brands, but will not be adding Revolution Beauty to it. Boohoo, now Debenhams Group, currently holds a substantial stake in Revolution Beauty.
Sectors
- Retail
- Beauty and Cosmetics
- Investment and Finance
Geography
- United Kingdom – Both Frasers Group and Revolution Beauty are based in the UK, making this the primary geographical focus of the article.
Industry
- Retail – The Retail industry is relevant to this article as both Frasers Group and Revolution Beauty are involved in the selling of consumer goods through multiple retail outlets.
- Beauty and Cosmetics – This industry is significant as Revolution Beauty specializes in beauty and cosmetic products, making it central to the news article.
- Investment and Finance – The investment activities of Frasers Group regarding the acquisition and the financial aspects of Revolution Beauty, including the equity raise, relate to this sector.
Financials
- 21.66 million – Current market capitalization of Revolution Beauty following recent share price declines.
- 500 million – Market capitalization of Revolution Beauty at the time of its IPO in 2021.
- 6-6.5 million – Expected FY25 underlying adjusted EBITDA for Revolution Beauty.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Frasers Group | Potential Acquirer | Company | A large retail group known for owning multiple brands, including House of Fraser and Sports Direct. |
| Revolution Beauty | Target Company | Company | A beauty and cosmetics company with shares and potential acquisition interest. |
| Boohoo (Debenhams Group) | Shareholder | Company | Holds a significant stake in Revolution Beauty. |