Online gifting retailer Notonthehighstreet has been taken over by US investment firm Great Hill Partners for an undisclosed sum.
Notonthehighstreet has been sold to the US private equity firm a few months after exploring a possible sale as the business recorded a sales boom during the ongoing coronavirus pandemic.
According to The Times the online retailer’s revenue has jumped by more than half over the past year as the business attracted nearly 1 million new customers and signed up 500 new small business partners.
The online retailer has not disclosed how much Great Hill Partners paid to acquire the business, but previous reports said it expected to attract offers around £150m.
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