The Hut Group (THG) has announced its acquisition of ESPA, a leader in spas and skincare excellence, from affiliates of KSL Capital Partners, LLC (KSL).
The investment is another strategic move for THG as it continues to expand its beauty offerings an international reach. Presently, THG is one of Europe's largest premium beauty retailers, offering brands including MAC, Bobbi Brown, Nars, and Lancôme through the website lookfantastic.com; the Group also owns numerous luxury beauty brants including Mio Skincare, Mama Mio, Grow Gorgeous, and Glossybox, in addition to it's newest brand, ESPA.
“ESPA is an exciting addition to The Hut Group’s growing portfolio of beauty brands," says Matthew Moulding, founder and CEO of The Hut Group. "Synonymous with luxury, its products are sold in the most prestigious spas and retailers around the globe. 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 & Beauty products by the end of the year.”
ESPA products and treatments are sold in over 700 spas across 50 countries throughout the globe, including the ESPA Life at The Corinthia London, top destinations of Ritz-Carlton, Peninsula, and One&Only. Each ESPA location offers a collection of bespoke experiences benefitting skin, body, and mind. Last year, ESPA-trained beauty therapists performed over 5 million treatments globally. ESPA products are sold in luxury retail outlets such as John Lewis, Liberty London, Harvey Nichols, and online at espaskincare.com.
“I am delighted with this acquisition which paves the way to an exciting next chapter in our journey," says Sue Harmsworth, founder of ESPA. "I am 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 over 50 countries, this partnership enables us to reach even more customers all over the world.”
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).
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