The Hut Group is on an acquisition spree, with spa brand ESPA next on its agenda.
The Hut Group has agreed to buy ESPA, for a rumoured £100m, just weeks after it snapped up Glossybox, followed by Australian beauty retailer RY.
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.”
ESPA, which celebrated its 25th anniversary this year, is currently owned by private equity firm KSL Capital Partners.
It operates more than 600 spas in 60 countries, and manufactures its products in the UK in its eco-cert accredited factory in Frome, Somerset.
Its products are on average 98-100% natural, with its best-seller being its Optimal Skin ProSerum; it sells one product every 30 minutes globally.
Susan Harmsworth, Founder of ESPA, said: “I am delighted with this acquisition which paves the way to an exciting next chapter in our journey. I am truly confident that The Hut Group has the passion and expertise to extend ESPA’s holistic philosophy which has been at the heart of our products, spas and treatments for twenty-five years.”
