Beauty & Lifestyle Startups: The Hut Group Now Has £345m to Buy You

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The Hut Group, the latest British e-commerce star, is going on the offensive, with a new loan of £345m for, mainly, acquisitions.

Manchester Evening News:

The Cheshire headquartered group, which operates over 100 websites including Lookfantastic, MyProtein, The Hut, ProBikeKit.com and AllSole.com, said it will use the funding for general corporate purposes as well as any strategic initiatives, including possible M&A in its core Health and Beauty categories.

It will also invest further in its global distribution and nutrition production centres.

The acquisitions are not going to be UK only. Last year, The Hut Group bought US based Skinstore as well as IdealShape & IdealFit, a female weight management & sports nutrition brand in the US.

The Hut Group grew last year from £334m to £490m (+47%) with an EBITDA of £49m.

CEO Matthew Moulding tells the Manchester Evening News:

“This new facility provides us with a very powerful foundation to further differentiate our business model and expand both in the UK and internationally, with a specific focus on supply chain integration across the Health and Beauty sectors.”

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