The Hut Group, which bought I Want One
Of Those.com in August, has made another acquisition.
Through a combination of cash and equity, The Hut has purchased
cosmetics etailer Lookfantastic Group for
£19.4 million. As part of the deal, Daniel Crown, chief
executive of Lookfantastic, will join the board of The Hut Group
to assist with its continued planned expansion into luxury
goods.
In the year to 31st March 2010, Lookfantastic Group, which
includes the sites Lookfantastic.com,
Lookmantastic.com and
BeautySleuth.co.uk, had sales of £20
million, EBITDA of £2.8 million and pretax profit of
£2.4 million.
The acquisition was funded via a £18.5 million institutional
fundraising from existing shareholders including Balderton
Capital, Artemis, William Currie Group and former Matalan chief
exec Angus Monro.
Devon-based wormery Original Organics is
featured in a Western Morning News
article. The business is investing £30,000 in the
expansion of its warehouse to support its future growth. As well
as manufacturing and supplying local authorities with compost
bins, the company also has a retail side to offer gardening
products and composting supplies.
Net-A-Porter has appointed Tracy Taylor as US editor to
create content specifically for an American audience. Taylor is
also tasked with improving on the site’s 3.3 million monthly page
impressions, writes MediaBistro.com.
Direct marketer Reader’s Digest has partnered
with Beat That Quote to launch its own comparison-shopping
website.
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