The Hut Group, which last year bought beauty and grooming
products websites Lookfantastic and Mankind, has added to its
health and beauty roster with the acquisition of MyProtein.com
for a rumoured £60 million ($98 million). The
Manchester-based sports nutrition company currently operates in
the UK and four other European countries including Germany,
France, Ireland, Italy, and Spain. It has a projected turnover
for 2011 of £25 million, up from £16 million last year.
MyProtein’s founder and chief executive Oliver Cookson join the
enlarged group as a board director heading up its lifestyle
division.
The Hut’s chief executive Matthew Moulding says the acquisition
is a “milestone in our ambitions to become one of Europe’s
leading online players”. With the addition of MyProtein,
The Hut Group will now achieve 40 percent of sales from outside
of the UK, compared with 30 percent in 2010.
Share