Valerie, the UK women's health brand, is looking for a buyer. Selvey and Johnson said publicly that months of fundraising, including follow-on commitments from new and existing backers, still fell short of what the next stage needed, so they shifted from raising to seeking a buyer.
A sale needs to be agreed by 3 August, the founders said, and several parties are already in talks.
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Valerie makes liposomal AM Daily Essentials and PM Evening Essentials supplements for perimenopause, which the brand says help with hormonal regulation, energy, focus, mood, brain fog, immunity and thyroid function.
In a post on Linkedin, Johnson shared that the brand has a nearly 80% gross margin and a £70+ average order value as well as a 4.7-star average product rating and Excellent Trustpilot score. Valerie is also stocked by Liberty and Holland & Barrett, with terms agreed with two more national retailers.
"This isn't a business that has run out of potential. It needs resources we can no longer provide ourselves," said Johnson.
Valerie's co-founders say they remain hopeful the brand can continue under an owner.
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