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Pays $60 million in cash for skin care brand.
By: Happi Staff
September 30, 2020
Perricone MD, the dermatologist-born beauty and skin care brand, has been acquired by The Hut Group (THG) for $60 million in cash. The sale price represents a 1x continuing sales multiple, according to THG. Perricone MD, founded by Dr. Nicholas Perricone in 1997, includes skin care, supplements and hydrogen water. With this acquisition, THG's beauty lineup includes Espa, Christophe Robin, Illamasqua, Mama Mio, Eyeko and Ameliorate. “Perricone MD has a strong heritage, a loyal customer base and is a truly exciting addition to THG’s beauty portfolio,” said Matthew Moulding, Founder, chairman and CEO of THG in a statement. “The online beauty and skincare sector is growing rapidly, and this acquisition enables us to further strengthen our position as the world’s leading pure-play speciality beauty brand owner and retailer.” THG is a British e-commerce company headquartered in Manchester, UK. It operates over 100 international websites selling Fast-moving consumer goods direct to consumer through its proprietary e-commerce platform
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