The Hut Group has secured millions of pounds worth of credit to invest in its online platform and build out its position as a digital leader in the beauty and wellness sector.
The Hut Group has raised £510m of Term Loan B debt issuance with a seven-year maturity, plus a five-year £150m revolving credit facility.
The loan facility will allow the retailer to invest in its online platform – Ingenuity – as well as “world-class talent” and its prestige brands, in a bid to strengthen its position in the beauty sector.
The retailer has several own brands including Myprotein and seven prestige beauty brands including Espa and Illamasqua.
The Hut Group founder and chief executive officer Matthew Moulding said: “This is another major step forward for The Hut Group 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.”
Both loans are underwritten by Barclays, HSBC, Citi and Santander.
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