Notonthehighstreet considers £200m sale as business booms during the pandemic

Notonthehighstreet, the online marketplace specialising in independent brands, is reported to be mulling a £200m sale as business boomed during the pandemic.

The business is reported to be working with investment bank Evercore on an auction process that could result in a sale that values it at more than £200m, according to Sky News. 

It is said that a number of bidders, including private equity houses and trade buyers are circling the business, which was established by Holly Tucker and Sophie Cornish.

Its platform offers a route to market for more than 5,000 small businesses with a particular focus on personalised gifts and products.

The company's current backers include Hubert Burda Media, the German publishing giant which invested £21m in 2018, as well as Index Ventures.

In August 2019 the business announced that its CEO Barrie Seidenberg was stepping down to focus on her health and would be replaced by Claire Davenport, formerly of HelloFresh. Its latest filed accounts to March 2019 show sales of just over £35m. 

According to Sky News a deal could be secured for the Kew-based business before Christmas.