Hut Group buys male grooming site

THE HUT Group, the Northwich-based online retailer of gifts, entertainment and health & Beauty products, has completed its second deal in a month after buying Mankind Direct for £2.5m in cash.

Mankind Direct was set up in 2001 and is based at Farnborough in Hampshire. It operates two websites, mankind.co.uk and beautyexpert.co.uk which between them generated £5m in sales over the past 12 months.

The Hut Group said that following the purchase of Look Fantastic Group last month, it is now the biggest online retailer in the UK health and beauty market, with sales of £25m.

Mankind Direct was advised on the sale by Clearwater Corporate Finance. Partner Marc Gillespie said the deal represented “represents an excellent fit for both parties”.

Mankind is a business with a well-targeted proposition, which has enjoyed solid growth since it was established in 2001.

“This acquisition will allow Mankind access to The Hut Group’s market-leading e-commerce platform and its comprehensive customer database, offering notable opportunities to further build market share both at home and abroad.”