Retail news round-up on February 16, 2016: Aldi launches recruitment drive, The Hut gets investment to fund acquisitions and Warburg Pincus eyes Reiss.
Aldi seeks 5,000 more staff as rampant expansion continues
Aldi is set to recruit 5,000 new staff members in the UK as the German hard discounter eyes opening 80 new shops this year.
The supermarket giant said the new jobs were for new and existing stores. The new roles will include managers, stock assistants and store staff.
“To support our continued expansion and the ongoing performance of our existing stores, it’s important that we attract the right candidates across all of our roles,” said Ruth Doyle, Aldi regional managing director.
The Hut secures private funding for M&A
Online retailer The Hut has raised in the region of $200m (£138m) in a private funding, the Financial Times reported.
The fast-growing health and beauty etailer has received funding from Belgian investment company Sofina, an unnamed Chinese fund and US fund group BlackRock, which are all willing to support transactions in the “hundreds of millions of dollars”, according to sources.
The ecommerce firm intends to use the fresh capital proceeds to finance potential mergers and acquisitions as it eyes expansion in the health and beauty market.
Warburg Pincus vies with Permira for Reiss
Ex-Poundland owner Warburg Pincus has entered the race to acquire a huge stake in fashion brand Reiss, according to Sky News.
Investment firm Warburg Pincus is understood to be one among the three final bidders vying for a stake from the retailer’s founder, David Reiss.
Others eyeing the chain include Dr Martens’ private equity owner Permira and another private equity group.