An online beauty retailer based in Manchester has hired bankers to review options such as a sale, according to reports.
Beauty Bay, which had drawn up plans for becoming a public company, has appointed US-based Threadstone Capital to advise it, Sky News has reported.
It added that the business is considering a full or partial sale to new investors but that it also look at acquiring another company.
READ MORE: Online shopping switch helps sales at Beauty Bay surge by more than £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, haircare, gifts and other accessories.
In February this year, BusinessLive reported that customers switching to online shopping during Covid-19 lockdowns helped its turnover surged by more than £50m during its latest financial period.
Beauty Bay posted a turnover of £134.4m for the 12 months to March 31, 2021, up from the £82.2m it achieved during the prior year.
The company's pre-tax profits also increased from £4.4m to £9.2m over the same period.
The number of people employed by the firm during the year increased from 129 to 150.
