LONDON — The Hut Group is continuing to widen its beauty portfolio.
The beauty tech firm today revealed the acquisition of Acheson & Acheson, a British contract manufacturer for prestige beauty brands. Terms of the deal were not disclosed.
Acheson & Acheson provides a range of services for brands including product design and development, formulation development, international sourcing, product testing, U.K. manufacturing and distribution. It has up to 350 employees — 50 of whom work exclusively on product development and innovation — and has a 78,000-square-foot manufacturing facility in Somerset, outside London, as well as a storage facility and head office.
All of the company’s facilities, as well as its in-house label called Ameliorate, will be added to THG’s portfolio.
“In Acheson & Acheson, we have made a significant investment and one that uniquely positions THG to make a step-change in its innovation, operational excellence and manufacturing capacity,” said Matthew Moulding, the group’s chief executive officer.
The Hut Group is planning to spend up to 50 million pounds to replicate Acheson & Acheson across Europe and the U.S., as part of its strategy to widen its stake in the beauty and wellness markets by investing in new brands and technology services.
In the last year, the firm has made a series of purchases of indie brands, including Eyeko, Espa, Mamma Mio and Illamasqua. Most recently, it has also bought Language Connect, a language translation and localization services company, to help its online platform grow.
THG retails more than 8,000 brands and operates more than 160 localized web sites across 35 languages and 42 currencies. The group said its platform receives more than 500 million visits annually.