The Hut Group has raised €1 billion to help fund ambitious expansion plans.
According to Sky News, the health and beauty retail group has received significant investment from US asset manager BlackRock and Belgian investor Sofina.
The money will be spent on expanding its online platform Ingenuity, as well as adding more beauty and wellness brands. It is also likely to help fund new ‘content studios’ and offices at Manchester Airport.
The financing will be provided alongside a new £510 million capital market term-loan, a five-year £150 million revolving credit facility - provided by lenders including Barclays and HSBC - and a £200 million financing package from a subsidiary comprising the company’s substantial property assets.
More than half of The Hut Group’s revenue comes from its own brands, including Myprotein and a beauty products including ESPA, Ameliorate, Mio Skincare, Illamasqua and Eyeko.
It also sells over 850 beauty brands, such as Estee Lauder, MAC, Tom Ford, Bobbi Brown, Jo Malone and L'Oréal.
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Retail should not be a high-risk occupation. As a company, we are focused on listening to our colleagues and customers to help them with the issues they are facing in-store and so far, the feedback on our body cameras has been excellent. They act as a great visual deterrent, help to de-escalate situations and overall, this project has significantly aided our goal to make the retail environment safer.
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