British makeup and skin care retailer Revolution Beauty said on Wednesday it was exploring a sale after it received a preliminary takeover approach.
The move comes days after the company said it was reviewing its funding structure and mulling a fundraise from key shareholders after its annual sales slumped by more than a quarter.
The company did not disclose the identity of the potential bidder. Revolution Beauty had a market capitalisation of £16.6 million ($22.3 million) as of Tuesday’s close.
By Shashwat Awasthi; Editor: Nivedita Bhattacharjee
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