Mike Ashley's Frasers Group has made a significant acquisition by purchasing Matches Fashion for £52 million. The group is also exploring a potential takeover of Revolution Beauty, which has recently declared itself for sale. Although Revolution Beauty confirmed that Frasers Group, along with other parties, is conducting due diligence, the company has cautioned shareholders that this interest does not guarantee a firm offer. Revolution Beauty has faced challenges, evidenced by a reported 26% decline in sales to £141.6 million in the past year, prompting these strategic maneuvers.
Revolution Beauty told shareholders that Flannels and Sports Direct is one of a number of parties conducting due diligence on the company.
There can be no certainty that Frasers' interest will result in a firm offer for the company.
Revolution Beauty sells online cosmetics, and make-up has seen a dip in their shares recently amid falling sales.
The cosmetics retailer reported a fall of 26% to £141.6 million in the year to 28 February; they reported in May.
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