Fladgate was delighted to advise Ocado on the sale of the entire issued share capital of Marie Claire Beauty Limited (trading as Fabled) to Next Group.
Fabled by Marie Claire launched in August 2016 and currently offers over 250 premium beauty brands via www.fabled.com and its beauty store in central London.
Next acquired Marie Claire Beauty Limited for a upfront payment and an earn-out based on sales in each of the four years ending January 2021 to January 2024, with a minimum guaranteed payment of £3m. The deal represents a present value to Ocado of £8m as a result of future expected earnings.
Commenting on Ocado’s latest transaction, Client partner, Grant Gordon said: “We have built a strong relationship and it was a pleasure to work with Ocado on another transaction as they evolve and build on their success. We remain fully committed to working alongside Ocado to achieve their strategic objectives.”
Transaction lead partner, Amy Collins added: “We were pleased to be instructed on the sale of Marie Claire Beauty Limited to Next Group. Our cross-practice team worked seamlessly to ensure the sale was completed efficiently and we wish Ocado, Marie Claire Beauty Limited and Next Group well following this sale.”
Grant and Amy were supported by partners Michael McCartney (employment), Tim Wright (commercial), Hamilton Forrest (tax) and corporate associate Diana Mennie and corporate trainee Laura Priestley.