Bank of Ireland provides an increased £40m commitment to high growth online retailer The Hut Group
Bank of Ireland’s Consumer Industries team has renewed and increased its RCF commitment to The Hut Group. The £40m participation is part of a new 3-year financing totalling £600m.
The Hut Group is one of the world’s largest online Beauty & Wellbeing businesses. It is built on a foundation of industry-leading technology, a world-class team and a scientific approach to building global brands. The Hut Group’s portfolio includes the world’s #1 sports nutrition site Myprotein.com and Europe’s #1 online beauty retailer lookfantastic.com.
Commenting on the transaction, The Hut Group CFO John Gallemore said: “We are delighted to build on our relationship with Bank of Ireland and appreciate the continued hard work and support of the team.”
This sentiment was echoed by Stuart Russell, Head of Consumer Industries at Bank of Ireland saying: “It is great to be able to increase our support to a business that we have worked with since 2016. The team at The Hut Group continue to demonstrate an ability to combine investment, innovation and execution to deliver significant results.”