Hut Group set for more acquisitions with £515m credit facility
Cheshire-based online health and beauty company The Hut Group has received a £515m revolving credit facility as it bids to grow into a “truly global company”.
Acquisitive THG has most recently snapped up British make-up brand Illamasqua reportedly for £25m, beauty box subscription services firm GlossyBox and Australian beauty retailer RY while in May it bought internet service provider UK2 from private equity company LDC.
The company saidit will use the funding to invest in further infrastructure development.
It deals across more than 140 websites in 47 languages and 30 currencies and 73% of its sales are overseas.
Chief executive Matthew Moulding said: “The continued confidence in the strength of our business shown by HSBC, Barclays, Santander, Lloyds, RBS, Bank of Ireland and Silicon Valley Bank is testament to their belief in our ambitions and ability to deliver.
“We are extremely pleased by the additional support of Citibank, AIMCo and JP Morgan, all of which are international banks, and further support our transformation into a truly global group.”
