The US-based investment company is in ‘advanced talks’ to purchase the online gifts retailer.
Founded in 2006 by Holly Tucker and Sophie Cornish, Notonthehighstreet.com brings together the most unique and stylish products that are perfect for those people who seem to have everything. The platform is home to more than 5,000 of the UK’s best small creative businesses that provide visitors with thoughtful gifts, original products and unforgettable keepsakes.
Now, it appears that US-based investment company, Great Hill Partners, who also backs Wayfair, is looking to purchase the platform for a cost of £150M to complete the acquisition. Although at this time it is still unclear whether the investment company will operate full ownership of the site, it is likely that the company will buy a majority stake.
Notonthehighstreet has been looking for a buyer for the past few months after hiring bankers at Evercore to search for potential bidders.
