The Hut Group acquires spa and skincare brand Espa
Online health & beauty retailers The Hut Group (THG) has acquired luxury spa and skincare brand Espa from affiliates of KSL Capital Partners, LLC.
The deal, believed to be worth at least £100m, is a strategic move by THG as it continues to expand its beauty offering and international reach, already the largest retailer of premium beauty in Europe, including Mac, Bobbi Brown, Nars and Lancome.
The company also owns an array of luxury beauty brands including Mio Skincare, Mama Mio, Grow Gorgeous and Glossybox – and now Espa.
Susan Harmsworth, founder of Espa, said: “I’m delighted with this acquisition, which paves the way to an exciting next chapter in our journey.
“I’m truly confident that The Hut Group has the passion and expertise to extend Espa’s holistic philosophy which has been at the heart of our products, spas and treatments for twenty-five years. With spas in more than 50 countries, this partnership enables us to reach even more customers all over the world.”
Espa was established in 1993 and is now a household name, with both products and treatments sold in more than 700 spas across more than 50 countries in the finest hotels, including Espa Life at The Corinthia London, top destinations of Ritz Carlton, Peninsula and One&Only.
Matthew Moulding, founder and chief executive officer of The Hut Group, also commented: “Espa is an exciting addition to The Hut Group’s growing portfolio of beauty brands. We intend to invest substantially in the Espa brand, especially in manufacturing capabilities, to develop the brand into a true global leader in its area.
“Our investment in acquiring the Espa brand further supports our ambition of becoming the world’s largest online retailer of health and beauty products by the end of the year.”
The Hut Group was advised by CMS (Katie Nagy De Nagybaczon), KPMG (John Moth) and Deloitte (David OLeary). KSL was advised by Baylor Klein (Tim Leach), Simpson Thacher & Bartlett (Derek Baird) and Deloitte (Gurm Dhillon).
Top image: Espa Life at The Corinthia, London