Tue, 04 Sep 2018 | BUSINESS SALE
In a deal valued at roughly £60 million, online retailers The Hut Group (THG) has bought beauty product innovation and manufacturing company Acheson & Acheson in an attempt to expand within the industry.
A Somerset-headquartered company operating in a 78,000 sq ft facility in Frome, Acheson & Acheson has 380 members of staff to its name working on the research and development of numerous beauty products for a range of different labels. Two Wiltshire sites, specifically for packaging and distribution, also fall under the group’s ownership.
Its own skincare line – Ameliorate – is designed for those suffering from keratosis pilaris, and is sold worldwide in high-street retailers like Selfridges, Harvey Nichols, Space NK Apothecary and Liberty’s, as well as in Boots and Marks & Spencer’s.
The acquisition will mean that all of Acheson & Acheson’s divisions will be added to THG’s portfolio, and in return the company has pledged to spend £50 million to grow the Acheson & Acheson brand internationally.
Chief executive of The Hut Group, Matthew Moulding, said: “Acheson & Acheson is a truly exciting addition to THG and I am delighted to welcome this very talented team. In Acheson & Acheson, we have made a significant investment and one that uniquely positions THG to make a step-change in its innovation, operational excellence and manufacturing capacity.”
Earlier this year, THG bought translation company Language Connect and eye cosmetics business Eyeko in July and March respectively. This is in addition to its acquisitions in the previous year when THG purchased skincare line ESPA and beauty subscription service Glossybox.
Kenneth Acheson, one of the founders of Acheson & Acheson, believes that the acquisition “will no doubt take [the company] to the next level of growth”.
The deal was sourced and brokered by partners Tim Leach and Rob Halsall from Baylor Klein and was advised on the legal front by Paul Medlicott from Addleshaw Goddard. Advisors from EY and Deloitte were involved to provide financial and taxation due diligence services respectively.
For more news stories about mergers, click here. For all our business for sale listings, click here.
A FENSA registered window and door manufacturing and installation company for UPVC windows doors and patio/conservatory products in addition to the supply of aluminium products timber doors and windows and glazing services....
Turnover in excess of £2m with an adjusted EBITDA of £317k. Specialises in manufacturing high-quality pipework systems for liquids and high-pressure gases, predominantly for blue-chip clients throughout Scotland and Northern England.
LEASEHOLD
A highly regarded business operating for over 15 years. Retains licensing agreements and partnerships with prestigious organisations.
LEASEHOLD
|
20
|
|
Oct
|
Acquisitive Marlowe Plc swoops for e-learning software firm in £25m deal | BUSINESS SALE
Marlowe Plc has announced that it has entered into an agreem...
|
19
|
|
Oct
|
Cazoo acquires Vans365 at around 5x EBITDA | BUSINESS SALE
Car retailer Cazoo has announced the acquisition of online c...
|
19
|
|
Oct
|
EG Group’s £750m Asda forecourts acquisition collapses | BUSINESS NEWS
EG Group has announced that its planned £750 million a...
Sign up to receive our acquisition alert emails to get your FREE guide
|
15
|
|
Apr
|
Flybe relaunch moves closer after sale completes | BUSINESS SALE
UK regional airline Flybe is due to relaunch this year after...
|
01
|
|
Dec
|
Arcadia collapses into administration | ADMINISTRATION
Sir Philip Green’s Arcadia, the group behind retailers...
|
12
|
|
Nov
|
LK Bennett poised to launch CVA | BUSINESS NEWS
Premium womenswear retailer LK Bennett has launched a propos...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources