23rd April 2021
THG (The Hut Group), the Manchester-based firm best known for its online beauty and technology activities, has agreed to acquire nutritional snack bar maker Brighter Foods from Real Good Food in a £43m deal.
The company stated that the acquisition will bring Brighter’s product “know-how and innovative resource” in-house after it had already helped reformulate the majority of THG Nutrition’s snack bar range.
As well as cost synergies of around £3m, the deal is also expected to help THG Nutrition to reduce lead times for new product launches while ensuring product IP remains exclusive.
In the year to March 2021, Brighter generated adjusted EBITDA of £3.7m on revenues of £19.8m. It makes millions of bars a year at its factory in Tywyn, Wales, for brand partners around the world in the slimming, sport, confectionery, organic, and free-from categories. It also makes its own ‘Wild Trail’ brand of bars which are sold by Ocado.
By Adria Calatayud THG Holdings PLC said Tuesday that it has acquired Dermstore LLC, a U.S. online retailer of skincare and specialty beauty brands, from U.S. retail giant Target Corp. for. | January 25, 2021
The Hut Group (THG) has snapped up US online skincare retailer Dermstore for 350 million dollars (£259 million) as it continues its expansion strategy.
The group, which owns brands including Glossybox and MyProtein, also told investors on Tuesday that it has bought UK nutrition product suppliers Claremont Ingredients and David Berryman for £59.5 million.
THG has grown rapidly in recent years by purchasing skincare and lifestyle brands while also operating online platforms for other brands.
Shares in the company have steadily improved since being valued at £5.4 billion in one of the year’s biggest stock market floats in September.
THG said it hopes the acquisition of Dermstore from US retail giant Target will help to enhance its relationships with key global beauty brands.
By Reuters Staff
2 Min Read
(Reuters) -E-commerce company Hut Group said on Tuesday it would buy Dermstore, an online retailer owned by Target Corp, for $350 million in cash as it looks to bolster the presence of its beauty brands in the U.S. market.
The British company, which owns retail brands such as Lookfantastic and skin care group ESPA, also bought UK-based Claremont Ingredients and David Berryman for 59.5 million pounds ($80.29 million), looking to scale up its drinks business with the aim of developing flavours tailored to local tastes across the globe.
The Hut Group said the Dermstore deal would help scale up its beauty box business, while speeding up growth of its own brands through a large U.S. customer base.
UK TOP NEWS SUMMARY: Ryanair, Wizz Air Restrict Non-EU Voting Rights
Tue, 29th Dec 2020 11:25
(Alliance News) - The following is a summary of top news stories Tuesday.
COMPANIES
Ryanair Holdings and Wizz Air Holdings confirmed that UK shareholders will have little or no say in the running of the two European budget airlines, starting from Friday. Dublin-based Ryanair said it must take steps to ensure that it will remain majority EU owned and controlled following the end of the Brexit transition period. The Irish carrier said it will treat all shares held by non-EU nationals, including UK nationals, as restricted shares from Friday. This means the holders of the shares will not be entitled to attend, speak or vote at any general meeting. Ryanair also said it will extend its existing prohibition on non-EU nationals buying ordinary shares to apply to Britons. It said UK nationals will not be required to sell shares they already own, but they will lose all say in the running of the