Cheshire-based The Hut Group (THG) appears to be back on the acquisition trail – with skincare and spa brand ESPA rumoured to be next on the list.
Sky News is reporting that the online retailer will complete a £100m deal for the brand – whose products are sold in the likes of John Lewis and Harvey Nichols as well as hotel chains including Ritz Carlton – later this week.
Surrey-based ESPA also has a presence in over 700 spas in 60 countries.
The deal comes just a few weeks after THG bought Queensland-headquartered haircare brand RY, and its portfolio already includes health and beauty brands including lookfantastic, Myprotein, exantediet and Grow Gorgeous.
THG recently secured a new round of funding that values the company at £2.5bn, signing a deal to sell a £125m stake to asset management firm Old Mutual Global Investors.
Set up in 2004 by chief executive Matthew Moulding and John Gallemore, THG employs more than 3,000 people and has said it expects that figure to double by 2019.
