Beauty Bay hires US banker to ‘consider options for sale’
Online retailer Beauty Bay is considering its options including a sale after hiring bankers, according to reports.
The retailer, which had also been considering a stock market listing last year, has appointed US-based Threadstone Capital to review its options, Sky News has reported.
Threadstone Capital is the corporate finance firm that advised Cult Beauty on its £275m acquisition by THG in 2021.
Beauty Bay, which was founded more than 20 years ago by brothers Arron and David Gabbie, features products from brands such as Anastasia Beverly Hills and The Ordinary and sells them to its customer base.
Based in Manchester it has recorded a sales rise during the Covid-19 pandemic as Brits shifted towards online spending.
Beauty Bay is now seeking to capitalise on the accelerating shift in beauty and skincare product sales to digital channels.
City sources said have said that Beauty Bay was examining a full or partial sale to new investors but could consider acquisitions as part of its strategy to grow.
Sky said Beauty Bay, which is understood not to carry any debt, is thought to be unlikely to revive the prospect of an initial public offering, which it had been planning for last year.