Retention Brands has acquired Birchbox’s assets from FemTech Health for an undisclosed sum.
The sale of the beauty subscription box service to the investment company comes nearly two years after the women’s health start-up acquired the brand for US$45m.
FemTec Health said in a statement that as part of its “strategic tightening around core healthcare businesses” it had engaged a national financial consulting firm to advise and explore possibilities for “the sale of some of its non-core and underperforming assets”.
Retention Brands bought Birchbox’s assets in an open bid process through an assignment for the benefit of creditors.
Details of the sale have not yet been disclosed.
Retention Brands is an investment company that specialises in businesses within the subscription retail space.
The sale comes after a slew of complaints about Birchbox’s service.
Birchbox halted all sales from its UK website in November last year amid rumours that it was preparing to file for Chapter 11 bankruptcy.
The website stated at the time that the company was facing a host of “unprecedented setbacks that are affecting all our members”.
Customers claimed they had been left with unfulfilled orders, while the retailer also had a disabled website for a couple of weeks in March too.
The beauty box subscription company was co-founded by Katia Beauchamp in 2010.
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