The Hut Group secures £195m for even more beauty acquisitions

Five banks are backing the company as it looks to further build its growing beauty brand portfolio

The Hut Group has secured £195m from five banks, with a view to making more beauty and wellbeing acquisitions.

The company says it is "well-placed" to become the global digital leader across the sector.

Barclays, HSBC, Santander, Citibank and JP Morgan have all rallied to raise the funds, which brings The Hut Group's total available banking facilities beyond £795m (US$1bn) for the first time.

Matthew Moulding, Founder and CEO of The Hut Group, said: “We are delighted with the continued backing from our lenders whose participation in this new facility demonstrates their belief in our plans for future growth and strong acquisition strategy.

“The world of beauty and wellbeing is being transformed globally by a digital channel shift and the explosion in high growth, small to medium-sized independent brands.

"This $1bn facility gives us significant firepower and makes us a serious player in building out our portfolio of Beauty and Wellbeing brands."

The Hut Group's acquisition timeline