Thu, 17 Jul 2025 | BUSINESS SALE
A skincare products company with revenues of close to £14 million has been acquired by a Lancashire-based retail group via a pre-pack administration process. Agden Consulting Limited, which trades as Facetheory, offers a range of eco-conscious skincare products.
The company has been acquired by Esselle Group, which is owned and backed by founder and retail entrepreneur, Suraj Lalvani. Esselle was founded in 2023 through the acquisition of home furnishing business Arthouse in a £1.5 million pre-pack deal.
Facetheory which was established in 2013, operates primarily as an online retailer, but also has a retail store on Regent Street in Central London. In 2021, it secured a £10 million investment from private equity investor Active Partners.
However, the company seems to have encountered some financial and operational difficulties over recent months. In January 2025, founder Jamie Shuker left the business, explaining that a new management team would be taking over as part of a succession plan. The same month, Active Partners acquired the controlling shareholder of the company, committing “a significant convertible loan note and equity package.”
In accounts for the year ending April 30 2024, the company reported turnover of £13.7 million, down from £15.3 million a year earlier, but managed to cut its pre-tax losses from £1.9 million to under £1.1 million.
At the time, directors stated that the drop in revenue was attributable to the company “adopting a more commercial approach to trading” moving away “from more financially inefficient customer acquisition spend.”
Despite the fall in revenue, directors stated that this strategy “achieved its objective of improving the Gross profit and Operating Loss levels.” However, they added that a Facetheory rebrand had caused disruption which impacted trading performance.
The acquisition of the company by Esselle Group will see all 28 of Facetheory’s employees, along with its Central London store, transfer to the buyer. The deal significantly bolsters Esselle Group’s footprint in the consumer goods sector.
Suraj Lalvani, CEO of Esselle Limited, said: “We are thrilled to welcome this innovative brand into the Esselle family. We’re excited to scale innovative formulations, deepen our customer relationships and unlock new opportunities across the clean beauty sector.”
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