Fladgate advised 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.
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.
Next (LSE: NXT) is a british multichannel clothing, footwear, home and third party brands products retailer headquarted in Enderby, Leicestershire.
Ocado (LSE: OCDO) is a UK based company trading on the London Stock Exchange. It comprises one of the world’s largest dedicated online grocery retailers.
Fladgate team was composed of Grant Gordon (Picture), Amy Collins, Michael McCartney, Tim Wright, Hamilton Forrest, Diana Mennie, Laura Priestley.
Involved fees earner: Amy Collins – Fladgate LLP; Hamilton Forrest – Fladgate LLP; Grant Gordon – Fladgate LLP; Michael McCartney – Fladgate LLP; Diana Mennie – Fladgate LLP; Tim Wright – Fladgate LLP;
Law Firms: Fladgate LLP;
Clients: Ocado Group plc ;