Multibrand online retailer The Hut Group has acquired Probikekit.com (PBK), an online retailer of cycle parts, accessories and clothing, from Encore Capital and its management. PBK joins the Hut’s “Lifestyle” division, alongside Myprotein and Myvitamins. The acquisition is in line with The Hut’s expansion strategy, enabling it to generate further product and customer cross-selling opportunities and readying it for a float on the stock exchange. The news follows the recent equity fundraise, which saw the family behind the River Island chain become new shareholders and Clive Lewis join The Hut Group’s board.
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