The Hut Group has closed in on a valuation of 2.5 billion pounds after securing 125 million pounds investment through a funding round.
The online retailer, which own fashion chain Coggles among other lifestyle brands, has secured an investment of 125 million pounds from Old Mutual Global Investors, according to ‘Sky News’. Existing shareholders in The Hut Group include Blackrock, the world's biggest asset manager, the private equity giant KKR and Sofina, a Belgian investor, which is also understood to be injecting fresh capital to maintain its stake in the latest funding round.
Insiders quoted by the news channel said the stake sale - which would be
Over the past years, The Hut Group has gone on an acquisitions spree, beefing up its portfolio with high-growth consumer brands and technology providers. Its latest acquisition has been beauty subscription box
In fact, The Hut Group is on track to invest about 400million pounds this year in a combination of technology projects and beauty brands, following 250 million pounds of investment last year.
The group launched in 2004, founded by Matthew Moulding and John Gallemore. As a result of the new funds injection, The Hut Group has become one of the UK’s highest-valued private companies.