Online marketplace Fruugo has hired bankers to pursue a sale.
The etailer, which was once considered a prime candidate to float on the London stock market, has recruited DC Advisory to explore options for its future, Sky News reported.
Fruugo, founded in 2006, helps consumer brands localise themselves when selling to international audiences and counts ex-M&S chair Lord Rose of Monewden among its shareholders.
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Sources said an outright sale is understood to be the likeliest outcome, although the sale of a minority stake will also be considered.
The marketplace, which employs 200 people, hosts thousands of retailers and posted sales of £65m in 2022.
Fruugo’s valuation in a possible sale is unclear but it was expected to seek a valuation of several hundred million pounds in 2021 when it considered a London listing. While now, a flotation is no longer thought to be on the cards.
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