Japanese investor SoftBank has unloaded its stake in THG to Matthew Moulding, the group's founder, and Qatar Investment Authority, taking a loss of around £450 million ($509 million).
WHO: THG was founded in 2004 by Chief Executive Matthew Moulding and CFO John Gallemore, retails more than 8,000 brands, and operates more than 160 localized websites across 35 languages and 42 currencies. THG has become one of Europe's largest online retailers of premium beauty brands. Other holdings include Eyeko, Illamasqua, ESPA, SkinStore, RY, Glossybox, Lookfantastic.com, and Grow Gorgeous, Ameliorate, Acheson & Acheson, Christophe Robin, Perricone MD, Bently Labs, and Cult Beauty.
IN THEIR OWN WORDS: Matthew Moulding, founder and CEO of THG, said, "I'm delighted to be further increasing my family's stake in THG, continuing our unswerving support following on from other recent share purchases. QIA shares the board's vision of the scale of opportunity for THG, building a British global success story in large and growing addressable markets. QIA's long-term investment approach is a positive endorsement for the UK as a whole.”
Moulding continued, "I'm incredibly proud of the progress the team continue to make in each of our major divisions, and believe the uncertain macro-conditions provide an even greater opportunity for THG to further disrupt global beauty, nutrition and technology markets."
"The further increase in Moulding's stake and by QIA may very well increase rumors that THG will be subject to a potential management buyout or public-to-private transaction," Wayne Brown, an analyst at Liberum, told Bloomberg.
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