Frasers Group withdraws takeover bid for Revolution Beauty

Published: 19-Jun-2025
Finance

The embattled cosmetics brand faces fresh uncertainty as Mike Ashley’s retail empire steps away from a potential acquisition

Frasers Group has officially withdrawn its bid to acquire Revolution Beauty, dealing a significant blow to the embattled UK cosmetics company as it continues to deal with declining sales and a volatile share price.

The retail giant, owned by Mike Ashley and parent company to Sports Direct, Flannels and House of Fraser, confirmed on 19 June that it “does not intend to make an offer” for Revolution Beauty, following a period of due diligence.

The decision follows last month’s announcement that Revolution Beauty had formally placed itself up for sale, after receiving preliminary interest from an undisclosed suitor. 

Frasers was widely reported to be among the key parties involved in early-stage takeover discussions.

Revolution Beauty, known for its affordable colour cosmetics and high street presence through retailers such as Superdrug and Boots, has experienced a turbulent few years. 

Its shares recently fell to an all-time low amid sharp declines in sales performance and ongoing operational challenges.

The brand is also facing a looming financial deadline, with its £32m credit facility set to expire in October. 

Company executives had previously signalled they were exploring all strategic options, including refinancing and potential sale, in an effort to stabilise the business.

Revolution Beauty reported a 26% decline in annual revenue for 2025. 

FY25 revenue totalled approximately £141.6m, down from the previous year, following the discontinuation of more than 6,000 stock.

The fast beauty brand is currently undertaking a major restructuring to streamline operations and focus on a scalable, core product range across global retail partners.

Revolution Beauty’s CEO Lauren Brindley has also exited the fast beauty brand.

For Revolution Beauty, the road ahead remains uncertain. With takeover interest cooling and financial pressures mounting, the brand must now seek alternative pathways to restore investor confidence and rebuild market momentum.

Related content:

Analysis: Was Revolution Beauty too hot for CEO Lauren Brindley to handle?

Revolution Beauty reports revenue drop amid major restructuring 

Revolution Beauty CEO Lauren Brindley announces sudden exit to join Ulta Beauty

UBS acquires 6.47% stake in Revolution Beauty amid strategic overhaul

 

 

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