Phrasers Group has confirmed that it will not process with an acquisition offer for the United Kingdom Cosmetics Company Revolution Beauty, ending speculations about a possible acquisition.
The retail group, owned by billionaire Mike Ashley, had previously indicated interest in making a cash sacrifice after Revolution Beauty put on sale in May in the midst of ongoing sales challenges. The company, valued at approximately 24.6 million (US $ 32.95 million), has faced performance and governance problems in recent years. Musthams, noow, owned by Boohoo Group, is the largest shareholder of Revolution.
Phrasers’ decision to step back eliminates a potential path towards recovery for Revolution Beauty, which has been looking for strategic options to reverse its decline. With its greatest shareholder linked to a rival retail group, the future of the Cosmetics brand remains uncertain as it continues to browse a competitive and sensitive beauty market.
