The Hut Group has bolstered its beauty portfolio with the acquisition of luxury skincare brand Perricone MD for $60m.

The US skincare brand was established in 1997 and develops its own products in-house with approximately 100 product patents under its belt and a commitment to no animal testing and clean ingredients and formulations.

The brand will join the Hut Group’s growing stable of beauty brands including ESPA, Illamasqua and Christophe Robin. The brand is already profitable at in EBITDA terms and The Hut Group plans for it to achieve double-digit EBITDA margins by the end of the 2021 financial year, in line with previous beauty acquisitions. 

This is the Hut Group’s first acquisition since its stock market float earlier this month.

The Hut Group chief executive Matthew Moulding said: “Perricone MD has a strong heritage, a loyal customer base and is a truly exciting addition to THG’s beauty portfolio.

“The online beauty and skincare sector is growing rapidly, and this acquisition enables us to further strengthen our position as the world’s leading pure-play speciality beauty brand owner and retailer.”

 

 

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