According to Digital Commerce 360, THG is acquiring Dermstore for USD 350 million in cash from Target. The move will enable THG to expand in the US and comes after the company raised USD 2.6 billion in September, in one of Europe’s biggest initial public offerings of 2020.
The deal will add about USD 182.20 million in sales to THG, previously known as The Hut Group. US regulatory approval is expected in late January 2021.
Furthermore, the company is going to acquire its UK-based nutrition product suppliers Claremont Ingredients and David Berryman, Digital Commerce 360 stated.
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