The Hut Group looks Down Under for latest beauty acquisition

Cheshire-based ecommerce business The Hut Group (THG) has acquired an Australian beauty firm.

Queensland-headquartered RY, one of the country’s biggest online hair care groups, was snapped up by THG for an undisclosed sum.

Though it operates primarily online, RY also runs two bricks-and-mortar salons in Queensland.

The investment, THG said, “catapults” it into “the number one position for online beauty and retail in Australia”.

The company, whose portfolio includes online fitness brand Myprotein and shoe retailer AllSole, acquired Australian firm Skincarestore.com.au in May 2016.

The deal is just one of a number of recent acquisitions for the company, which expects to make further investments in the beauty market in the coming months.

THG bought marketing services agency Hangar Seven Limited in April this year and hosting company UK-2 Limited in May.

As part of the latter deal, plans were revealed for the creation of around 1,000 new tech jobs over the next three years.

THG chief exec Matthew Moulding said: “We are delighted at the acquisition of RY.com.au, a leading player in the growing Australian haircare and beauty market and a business that complements our existing beauty websites such as look fantastic and Skincare store.

“At THG, we have a clear focus on health, beauty and technology and we are very proud that this most recent investment sees us become the number one online retailer for health and beauty in Australia.”

He added: “Crucially, it marks another step towards our goal of being the number one in health and beauty globally.”