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KKR said to buy stake in The Hut Group

By FashionUnited

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As reported over the weekend, American private equity firm KKR would be heading a consortium of investor willing

to take a stake in the British online retailer The Hut Group.

The Hut counts Sir Terry Leahy and Sir Stuart Rose among its backers and, according to the ‘Financial Times’, has arisen a great deal of interest amongst eager investors.

A consortium led by KKR will pay up to 100 million pounds for a 20 percent stake of the Manchester-based online business. The US private equity group KKR´s alleged deal would value the retailer at 500 million pounds, as highlighted by Reuters.

It is worthy to remember that The Hut Group mulled an initial public offering (IPO) in 2013 to roll that out in May 2014.

The online retailer reported earnings results for the year ended December 31, 2013 in early June. The company's figures were driven by a 34 percent jump in sales (which totalled 176.4 million pounds). Adjusted EBITDA increased by 48 percent to 15 million pounds, ahead of market's expectations.

The Hut Group