Get the day's biggest stories sent direct to your inbox so you never miss a thing An online beauty products retailer has been snapped up by Manchester-headquartered e-commerce giant The Hut Group (THG) for £275m.
Cult Beauty, which was founded in London in 2008, will bring about 200 new brands to THG's portfolio, 1.7million "engaged customers" and 1.6million Instagram followers.
The deal will also lead to an increase of about £140m in sales for the listed group and in the region of £10m in adjusted EBITDA for THG during its next financial year, reports BusinessLive. READ MORE: How Dragons' Den star Steven Bartlett's Diary of a CEO live show lit up Manchester's Albert Hall Cult Beauty is also expected to contribute sales of about £60m and
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