THG agrees deal with Softbank

The Hut Group (THG) which is to acquire Bentley Laboratories, a US beauty care business, has finalised a deal with Softbank. This will see the Japanese entity take a 9.5 per cent stake in THG for a consideration of £516m. Softbank is also understood to be taking a 19.9 per cent stake in Ingenuity, THG’s technology division which supports a number of third party businesses in their eCommerce activities. Plans are afoot to separate out Ingenuity next year.

THG’s founder & executive chairman Matthew Moulding said: “The trading partnership opportunity is particularly exciting, providing Ingenuity with an unparalleled growth opportunity. Furthermore, the combination of the acceleration of growth within Ingenuity  and its separation into a distinct entity will enable THG to unlock significant incremental shareholder value over time.”