THG puts shine on its beauty portfolio with $60m acquisition
THG has bought American skincare brand Perricone MD for $60m (£47m) in its first acquisition since it floated.
It plans to use its digital expertise to boost Perricone MD's margins up to the levels it has achieved with previous THG Beauty brand acquisitions.
Perricone MD is currently profitable at the EBITDA level although THG "anticipates minimal impact in the current financial year".
Matthew Moulding, chief executive of THG, said: "Perricone MD has a strong heritage, a loyal customer base and is a truly exciting addition t... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
