30th Sep 2020 06:53
(Alliance News) - THG Holdings PLC is close to unveiling its first post-float acquisition, Sky News reported late Tuesday, with privately-owned skincare brand Perricone MD set to join its ranks.
Perricone, which is owned by private equity firm Lion Capital LLP, specialises in anti-ageing products.
Lion Capital is known for its investments in the consumer goods market and has previously had British potato chips maker Kettle Foods, soft drinks maker Orangina Schweppes and Bristol-based cafe and bar operator Loungers PLC among its investees.
THG could announce a deal with Lion as early as Wednesday, Sky News added.
https://news.sky.com/story/online-retailer-the-hut-group-eyes-first-takeover-since-5-2bn-float-12085519
THG, also known as Hut Group, raised GBP1.88 billion in its London stock market float earlier in September.
Manchester-based Hut - which has operations within its Beauty, Nutrition and Ingenuity arms - owns brands such as online cosmetics company Lookfantastic and wellness unit Myprotein. Its Ingenuity e-commerce technology platform serves blue-chip customers such as Nestle SA, Walgreens Boots Alliance Inc and Procter & Gamble Co.
THG shares closed 0.6% higher at 603.90 pence each in London on Tuesday.
By Eric Cunha; [email protected]
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