The Hut Group announces £600 million credit facility & term loan

22-May-2018 - Last updated on 22-May-2018 at 09:39 GMT

The Hut Group (HTG) is continuing its efforts in promoting disruptive innovation in online marketplace retail through its recently announced credit facility launch.

It’s one of the world’s largest online beauty & wellbeing businesses, and says its new £600 million facility will be used for any strategic initiatives the Group may undertake.

This includes possible future mergers and acquisitions in its Beauty & Wellbeing categories, as well as infrastructure development.

THG already owns several luxury beauty brands including ESPA, Mio Skincare, Mama Mio, Grow Gorgeous, Illamasqua and GLOSSYBOX.

Banking backing

The revolving credit facility and term loan is provided by Barclays, HSBC, Santander, RBS, Citibank, Lloyds, Bank of Ireland, JP Morgan, Silicon Valley Bank and Amico.

Matthew Moulding, Founder and Chief Executive Officer of The Hut Group, said: “We are delighted with the continued backing shown by our banking syndicate. We value their support and the partnership we have developed with each of them.

“This increase in our credit facilities through to 2021 is another important and powerful addition for the Group and its business model, as we continue to deliver on our ambitions and drive forward our international growth.”

The company’s beauty portfolio is powered by THG Ingenuity, its proprietary e-commerce technology platform.

The platform generates global consumer demand insights and continues to grow in 2018, says THG. It now trades on over 166 localised websites across 46 languages and 42 currencies.

Steven Estill, HSBC Relationship Director for Large Corporate said: “We are delighted to reaffirm our commitment to THG by participating in this latest refinancing and congratulate the team on the further increase in size of the facility and extension to the tenor which could see the facility extend into 2022.

“We look forward to working alongside the Group as they continue to deliver on their ambitions.”

Martin Souter, Barclays Relationship Director for North West Key Clients said: “THG has been on a fantastic journey thus far and Barclays is very proud of its long relationship having supported the business from its very early days.

“We are really pleased to be supporting with this new £600m facility, which will provide significant firepower to the Group as the Management team look to drive their M&A strategy as part of their long-term growth plans.”