Beauty Bay ‘considering options’ after hiring company that worked on £275m THG deal

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A Manchester-based online beauty retailer has hired bankers to look into options such as a sale, according to reports.

Beauty Bay, which had drawn up plans to become a public company, has appointed US firm Threadstone Capital to advise it, Sky News reported.

He added that the company was considering a full or partial sale to new investors, but was also considering acquiring another company.

READ MORE: Online shopping switch helps Beauty Bay sales rise by over £50m

Threadstone Capital is the corporate finance firm that advised Cult Beauty on its £275m acquisition by THG in 2021.

Beauty Bay was founded in 1999 by brothers Arron and David Gabbie and sells makeup, skincare, bath and body care, hair care, gifts and other accessories.

In February this year, BusinessLive reported that customers switching to online shopping during the Covid-19 shutdowns had helped its turnover increase by more than £50m in its last financial period.

Beauty Bay recorded sales of £134.4m for the 12 months to March 31, 2021, compared to £82.2m the previous year.

The company’s pre-tax profits also rose from £4.4m to £9.2m in the same period.

The number of people employed by the company during the year increased from 129 to 150.

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