The Hut Group has increased its bank financing to more than £795 million as it prepares to embark on securing further acquisitions. The extra facility of £195 million increases the £600 million revolving credit facility it confirmed earlier this year. The business is now reviewing prospective propositions in mainland Europe and the USA. It is planning top recruit a further 2000 staff this year as its group sales continue to grow unabated. Notably, it achieved 62 per cent revenue growth from international sales last year.
CEO Matthew Moulding commented: “The world of beauty and well-being is being transformed globally by a digital channel shift and the explosion in high growth, small to medium-sized independent brands.”
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