KKR completes investment into The Hut Group
As reported in TheBusinessDesk.com this week, the deal values the Cheshire company at £500m, after the new investors acquired a 20% stake for £100m.
It is understood a number of original backers of the Northwich business have sold their shares to KKR, including the family and friends of founder and chief executive Matthew Moulding, who has built the business alongside co-founder CFO John Gallemore.
The Hut, whose brands include MyProtein and MyBag, is one of the fastest-growing businesses in the region. It has made rapid progress in the past year with sales up 34% to £176.4m and EBITDA 48% to £15m.
The Manchester office of law Addleshaw Goddard has advised The Hut Group on the deal. The Addleshaw Goddard team was led by corporate finance partner Roger Hart and included managing associate Jamie Partridge.
Mr Hart, commented: “We have a very close relationship with The Hut Group and it’s really pleasing to help them to take another strategic step forward.”
