British e-commerce giant THG has ended its investment deal with SB Management, a subsidiary of Japanese investment giant SoftBank, in light of “global macroeconomic conditions”. In May of last year, the two company’s struck a deal which saw SB Management invest 730 million dollars in THG. The deal also included the option for SB Management to...
26 Jul 2022
The Hut Group (THG) said Thursday it has rejected all recent takeover bids for the company as they “significantly undervalued” the business. In May, THG revealed it had turned down a 2 billion pound joint takeover bid from investment companies Belerion Capital Group Limited and King Street Capital Management. On the same day, the group announced...
16 Jun 2022
British e-commerce giant The Hut Group (THG) has turned down a 2 billion pound takeover offer from two investment companies after saying it undervalued the business. The group said late Thursday that it received an unsolicited takeover bid from Belerion Capital Group Limited and King Street Capital Management of 170 pence per share. It rejected...
20 May 2022
The Hut Group said Thursday it has turned down a number of buyout approaches as the company reported full-year profit and revenue growth. “I can confirm that the board has received indicative proposals from numerous parties in recent weeks,” founder and CEO Matthew Moulding told investors. But he said the board concluded that “each and every...
21 Apr 2022
Alexia Inge, the co-founder and CEO of online beauty e-tailer Cult Beauty, has exited the company following its acquisition by The Hut Group (THG) last year. Inge, who launched Cult Beauty along with Jessica Deluca in 2008, said joining forces with THG “marked a seminal milestone in the company’s history”, and said she was “excited to watch the...
19 Apr 2022
The Hut Group (THG) has named former ITV CEO Charles Allen as its new chair to “drive growth” at the company which has seen its share price stumble in recent months. Allen was at the helm of ITV from its formation in 2004 until 2007, and has also previously held the same position at Granada Group, and been chief advisor to the British Home...
22 Mar 2022
E-commerce retailer The Hut Group (THG) has announced its non-executive director, Tiffany Hall, will be stepping down from its board, effective immediately. Hall, who has been with the technology platform for 12 months, was said to be leaving for “family reasons”. In a statement, THG CEO Matthew Moulding thanked Hall for her contribution, most...
21 Mar 2022
Shares in British e-commerce giant The Hut Group surged on Friday on speculation it could be sold. The group is reportedly being circled by private equity firms potentially looking to buy the business, according to a Betaville blog post. Advent International and Leonard Green are two firms understood to be exploring a buyout. Shares in the group...
7 Feb 2022
The Hut Group (THG) has reported a strong increase in revenue in its full-year trading update but said its profit margins are expected to be lower than analysts’ previous estimates. In the 12 months to December 31, the British e-tail giant reported record revenue of 2.2 billion pounds, up 37.9 percent compared to last year and up 95 percent...
18 Jan 2022
The Hut Group (THG) has reported surging revenue in the third quarter of the year. In the three months to September 30, the group’s revenue came in at 507.8 million pounds, a 38 percent increase compared to a year ago and a 93.8 percent increase compared to two years ago, on a constant currency basis. The group’s Beauty division continues to be...
26 Oct 2021
The Hut Group (THG) founder and chief executive Matthew Moulding is giving up his ‘golden share’ in the company in a bid to regain the confidence of investors after the online giant’s share price plunged in recent weeks. The group confirmed on Monday that Moulding is to cancel his special share rights, which gives him greater voting powers over...
18 Oct 2021
UK-based fintech venture Mode has launched its Open Banking-powered QR payments service and bitcoin rewards solution with The Hut Group’s tech platform. Mode’s integration into The Hut Group (THG) was originally scheduled for roll-out over 12 months starting from the end of Q3 2021, however, the fintech company stated that it has been “heavily...
12 Oct 2021
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