THG Holdings Acquires Dermstore in U.S. Online Retail Expansion

THG Holdings Acquires Dermstore in U.S. Online Retail Expansion
Bloomberg
12/29/2020
© Bloomberg
A woman holds her debit during online shopping.
(Bloomberg) -- THG Holdings Ltd., a British e-commerce operator that sells beauty and nutrition products, has agreed to buy Dermstore LLC as it expands its reach in the U.S.
THG is acquiring the retailer of high-end skincare and specialty beauty brands for $350 million in cash from Target Corp., according to a statement Tuesday.
The move will allow THG, whose sales have been boosted by the e-commerce boom amid Covid-19 lockdowns, to tap a new and large U.S. customer base for its own brands. It also comes after the company raised 1.9 billion pounds ($2.6 billion) in September in one of Europe’s biggest initial public offerings this year.

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