The Hut Group secures £515m with more beauty acquisitions in mind

Published: 25-Oct-2017

Company plans to invest in its beauty portfolio, recently boosted by Illamasqua, ESPA and Glossybox

The Hut Group has secured £515m in financing with its sights set on investment in its ever-growing beauty portfolio.

The revolving credit facility will be used for general corporate purposes, infrastructure development as well as strategic initiatives including possible M&A in its Beauty & Wellbeing categories.

Matthew Moulding, Founder and CEO of The Hut Group, said: “This year has seen a real acceleration in investment for The Hut Group, especially across Beauty, infrastructure, technology and talent.

“This substantial new credit facility is another important step for the group and provides us with even more firepower to pursue our ambitions for further significant international growth.”

Banks including HSBC, Barclays, Santander, Lloyds, RBS, Bank of Ireland and Silicon Valley Bank executed the transaction, alongside others. The Hut Group acquired Illamasqua earlier this month for a rumoured £25m, just a month after it snapped up ESPA for £100m.

It bought Australian beauty retailer RY and Glossybox in August.

The Hut Group trades on over 140 websites across 47 languages and 30 currencies; international sales account for 73% of the group’s overall sales.

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