Future plc (LSE:FUTR) has agreed to acquire 100% of UK digital publisher SheerLuxe Ltd and BLUSH Talent MGMT Ltd for an initial cash consideration of £39.9 million, strengthening its exposure to women’s fashion, beauty and lifestyle content. SheerLuxe, a rapidly growing “Google-zero” brand with around 6 million followers across social media, newsletters, websites and podcasts, has a strong Gen Z audience profile and generated £12.6 million of revenue and £5.1 million of EBITDA in the 12 months to September 2025, implying an EBITDA margin of roughly 40%.
The deal is expected to be earnings accretive, with the acquisition struck at an EV/EBITDA multiple of 7.8x. Future plans to unlock value by applying its commercial scale, advertising and affiliate expertise, and proprietary products such as Collab and Future Optic. The group also intends to leverage its US infrastructure to support a SheerLuxe launch in the United States, further strengthening its Fashion & Beauty vertical alongside established titles including Marie Claire and Who What Wear.
The transaction will be funded from existing facilities and is expected to add around £3 million in annual interest costs. Total consideration is capped at £80 million, linked to ambitious growth targets and the retention of SheerLuxe’s management team. Management said the acquisition aligns with Future’s strategy of using strong cash generation to reduce leverage and return surplus capital to shareholders through buybacks, while sharpening its portfolio around brands that benefit most from its platform-led model.
Looking ahead, Future plc’s outlook reflects a balance of pressures and opportunities. Financial performance remains under strain from declining revenue and profitability, while technical indicators point to bearish momentum. Offsetting these factors, valuation metrics suggest potential undervaluation, and management’s strategic initiatives outlined in recent updates offer some optimism for longer-term growth. Improving revenue momentum and margins will be central to strengthening the overall investment case.
More about Future plc
Future plc is a London-listed global specialist media group operating around 175 brands across a wide range of content verticals. The group monetises audiences through advertising, eCommerce affiliate income and direct consumer revenues such as subscriptions and magazine sales. Its content is distributed via websites, newsletters, video, print publications and live events, with a strategy focused on building engaged audiences, increasing revenue per user and optimising its media portfolio.
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