(Reuters) -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 capitalization of 16.6 million pounds ($22.3 million) as of Tuesday’s close.
($1 = 0.7435 pounds)
(Reporting by Shashwat Awasthi in Bengaluru; Editing by Nivedita Bhattacharjee)
