Online platform Beauty Bay hires US bankers to review options
Salford-based online beauty platform Beauty Bay has hired US bankers to review options that could include a sale, according to a Sky News report.
Beauty Bay, which was originally founded in 1999 by brothers Arron and David Gabbie, has reportedly appointed US-based corporate finance firm Threadstone Capital to advise it.
It added city sources said the online retailer could be examining a full or partial sale to new investors, but it may opt to acquire other businesses in further expansion attempts.
Last year, Threadstone Capital worked as an advisor to Cult Beauty which was taken over by London-listed company The Hut Group in a £275m deal.
Headquartered at Exchange Quay in Salford, Beauty Bay sources brands such as The Ordinary and sells the products to its customer base.