Mike Ashley's Frasers conducts due diligence for potential Revolution Beauty bid (updated)
09/06/2025 07:15
Adds background in paragraph 2, detail in 3
June 9 (Reuters) - Revolution Beauty REVB.L said on Monday that billionaire Mike Ashley's Frasers Group FRAS.L is among several parties conducting due diligence for a potential takeover of the struggling British cosmetics company.
The branded cosmetics seller put itself up for sale in May after months of languishing sales and reaching a settlement with its co-founder and former-CEO Adam Minto, which wiped out more than 70% of the company's value.
It currently has a market valuation of 23.1 million pounds ($31.3 million), as per LSEG data.
($1 = 0.7380 pounds)
(Reporting by Yamini Kalia and Shashwat Awasthi in Bengaluru; Editing by Sumana Nandy)
((Shashwat.Awasthi@tr.com))