The health and beauty retailer announced today that Minto has agreed to “the full and final settlement of certain claims between them” and will pay Revolution Beauty £2.9m.

The settlement sum will be paid in six annual instalments of £483,333 starting on March 28, 2024, with each subsequent sum due on that same date until March 28, 2029. If a payment is missed, interest will be charged at 8% per annum.