The Hut Group, an e-commerce firm specialising in health and lifestyle brands, is continuing is rapid expansion into cosmetics and toiletries with the acquisition of UK spa brand ESPA in a rumoured £100 million ($130 million) deal.
ESPA markets a range of skincare and cleansing products for men and women, as well as operating 600 spas across 60 countries. The firm, which is currently under the ownership of private equity firm KSL Capital Partners, also operates a manufacturing facility in Frome, Somerset.
Commenting on the deal , Matthew Moulding, founder and CEO of The Hut Group, said: “ESPA is an exciting addition to The Hut Group’s growing portfolio of beauty brands. Synonymous with luxury, its products are sold in the most prestigious spas and retailers around the globe. We intend to invest substantially in the ESPA brand, especially in manufacturing capabilities, to develop the brand into a true global leader in its area. Our investment in acquiring the ESPA brand further supports our ambition of becoming the world’s largest online retailer of Health & Beauty products by the end of the year”.
The acquisition of ESPA comes hot on the heels of The Hut Group’s deals to acquire Glossybox and RY, which were both announced in the past few weeks. Founded in 2011 in Berlin, Glossybox is described as Europe’s number one provider of beauty box subscription services, while RY is claimed to be Australia’s leading online store for haircare and skincare products.
Source: Cosmetics Business / The Hut Group / RY