Clearwater Corporate Finance has advised the shareholders of male grooming and skincare e-retailer Mankind Direct Limited, on its acquisition by high-growth online retail company The Hut Group.
Founded in 2001 and based in Farnborough, Hampshire, Mankind is the UK’s largest male grooming and skincare business, generating £5 million in sales over the last 12 months through providing a comprehensive range of luxury brands.
The Hut Group, which is based in Northwich, Cheshire, is an online retailing platform focused on consumer goods including entertainment (games, DVDs, CDs, books), electricals, gadgets, health and beauty, footwear, gifting, accessories, toys, underwear and sports. It retails online through its own sites including TheHut.com, zavvi.com, Lookfantastic.com, Iwantoneofthose.com, Gifted.com, MyBag.co.uk, Washbag.com and Lookmantastic.com. In addition, The Hut Group also delivers online retail solutions for blue-chip partners such as ASDA, Woolworths, Argos, Tesco, WHSmith and N Brown Group.
Following the acquisition of Look Fantastic Group earlier this month, The Hut Group is now the UK’s largest online retailer in both women’s and men’s health and beauty, with annual health and beauty sales of more than £25 million.
Partner Marc Gillespie, led the deal team for Clearwater, supported by director Dan Bowtell.
Marc Gillespie said: “Mankind is a business with a well-targeted proposition, which has enjoyed solid growth since it was established in 2001. This acquisition will allow Mankind access to The Hut Group’s market-leading e-commerce platform and its comprehensive customer database, offering notable opportunities to further build market share both at home and abroad. The deal represents an excellent fit for both parties and we are delighted to have advised Mankind.”