Charles Sternberg, Assistant Editor05.12.21
The Hut Group has announced plans to acquire Bentley Laboratories, a prestige beauty developer and manufacturer, for $255 million, subject to regulatory approval.
THG is currently a customer of Bentley, which manufactures its Perricone MD brand. The acquisition will enable it to bring the production of Perricone and other THG brands in-house. It will also help the business to accelerate new product development.
“The acquisition of Bentley materially increases our capability in beauty manufacturing and product development, and strengthens our position as the leading digital beauty business globally,” said executive chairman and CEO Mathew Moulding.
This acquisition is expected to boost THG’s fiscal year 2020 revenues by $15 million.
THG is currently a customer of Bentley, which manufactures its Perricone MD brand. The acquisition will enable it to bring the production of Perricone and other THG brands in-house. It will also help the business to accelerate new product development.
“The acquisition of Bentley materially increases our capability in beauty manufacturing and product development, and strengthens our position as the leading digital beauty business globally,” said executive chairman and CEO Mathew Moulding.
This acquisition is expected to boost THG’s fiscal year 2020 revenues by $15 million.
