Overview

• Frasers Group is among several bidders conducting due diligence on Revolution Beauty following its decision to put itself up for sale.
• Shares in the beauty retailer surged as much as 18% after the announcement of Frasers’ interest.
• Revolution disclosed a 26% drop in annual sales to £141.6 million for the year ended February 28 and its market value fell to about £20 million.
• The company has faced leadership disputes and accounting investigations, including a public tussle with Boohoo, which holds a 27% stake.
• A deal would build on Frasers’ recent stakes in other retailers such as THG, Currys and AO World.