The Hut Group has agreed to buy a trio of companies for about $430m as the UK online beauty and health retailer continues to expand since listing in London in September.
The Manchester-based group said on Tuesday it had agreed to acquire skincare retailer Dermstore.com from US retailer Target for $350m. The all-cash deal will add roughly $180m to The Hut Group’s sales next year and requires approval from US antitrust authorities, which the company expects to receive late next month.
The Hut Group also said it was buying Claremont Ingredients and David Berryman for £59.5m. The two UK-based companies, which supply the group with nutrition products, will bring sales of about £15m in 2021 the group said.
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Looking forward to developing our new skincare brand based on the oils and natural ingredients from Frantoio del Bartolomei – a centuries old Olive Estate in Tuscany.
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