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Economy

The Hut Group secures £510m debt facility to boost beauty investment

The Hut Group has secured a £510m of debt issuance with a seven-year maturity to help boost its digital and beauty offerings. 

The process has been underwritten by Barclays, HSBC, Citi and Santander. The transaction is set to be a “step change” within the beauty and wellness capital structure.

The Hut Group has increased sales to £1bn this year in comparison to £80m in 2010, with over 60% of revenues generated around Europe, Asia and the US, as well as over 50% of stems from own brands including Myprotein and a portfolio of beauty brands including, ESPA, Christophe Robin, Ameliorate, Grow Gorgeous, Mio Skincare, Illamasqua and Eyeko.

The Hut Group also sells over 850 beauty brands such as Estee Lauder, MAC, Tom Ford, Bobbi Brown, Jo Malone and L’Oreal.

Institutional shareholders also include BlackRock, Old Mutual, Sofina, KKR and Balderton Capital.

The Hut Group’s founder and chief executive officer, Matthew Moulding, said: “This is another major step forward for THG and a testament to the strength of the business we have built. 

“These new debt facilities provide the company with significant investment capability enabling us to further drive our proposition across global markets, build brands of scale and continue to develop our leading technology, infrastructure and people.”

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