The Hut Group readies 515 mn pounds credit, eyes more acquisitions

The Hut Group has announced a 515 million pounds (676 million dollars) revolving credit facility, which the company said will be used for general corporate purposes plus any strategic initiatives the group may undertake, including possible M&A in its beauty & wellbeing categories, as well as infrastructure development.

Commenting on the development, Matthew Moulding, Founder and Chief Executive Officer of The Hut Group, said in a press statement: “This year has seen a real acceleration in investment for THG, especially across beauty, infrastructure, technology and talent. This substantial new credit facility is another important step for the group and provides us with even more firepower to pursue our ambitions for further significant international growth.”

Meanwhile, the group added that it continues to invest in its own brand proposition, particularly its growing beauty portfolio, which is powered by its proprietary e-commerce technology platform. The platform, The Hut Group added, which generates global consumer demand insights, has grown significantly in 2017 and now trades on over 140 websites across 47 languages and 30 currencies. International sales at THG now account for 73 percent of the group’s overall sales.

The Hut Group (THG), led by founder Matthew Moulding, in the year to December 31, 2016, reported sales rise of 50 percent to 501 million pounds (657 million dollars), with international sales growing by 89 percent to 316 million pounds (414 million dollars). EBITDA grew 67 percent to 50 million pounds (65 million dollars).

Picture:The Hut Group website