The Hut Group has acquired luxury skincare brand Espa in a deal thought to be worth over £100m.
The health and beauty etailer has confirmed its acquisition of Espa for an undisclosed sum.
The UK-based skincare brand is sold in retailers including John Lewis, Harvey Nichols and Liberty, as well as being stocked in over 700 spas across 50 countries.
All of the skincare brands products are developed and manufactured at its UK facility.
The brand’s sale to The Hut Group was overseen by private-equity firm KSL Capital Partners, and comes less than a month after the health and beauty giant snapped up Glossybox.
Chief executive Matt Moulding 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 founder Susan Harmsworth added: ”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 25 years.”
The Hut Group to invest around £400m this year across various technology projects and beauty brands, up from a £250m investment the previous year.
In recent months the health and beauty retail group, which posted a 67% profit surge in May, has acquired web-hosting platform UK2 and Australian beauty retailer RY.com.au.
The retailer hit the £2.5bn valuation mark in August after it sold a £125m stake to Old Mutual Group Investors.
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