The Hut Group on takeover spree as value skyrockets
The Hut Group has in the last few months rejected a string of investment and takeover offers valuing it at nearly £4 billion.
Sky News reports that the UK online retailer, which sold a stake last year at a £2.5 billion price tag, is about to buy Acheson & Acheson, a beauty contract manufacturer and product developer, in a deal understood to be worth between £50 million and £100 million. This follows other takeovers by The Hut Group, including of ESPA, the skincare and spa brand, and Glossybox, a subscription service.
“The company's decision to turn down investment and takeover offers valuing it at $5 billion (£3.9 billion) will again stir interest in the price at which it could eventually sell or float on the stock market,” Sky News says. “There are understood to be no plans to pursue either exit route, with further acquisitions said to be on the agenda.”
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