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The Hut Group hits £3.9bn valuation

Online retailer and technology company The Hut Group has rejected takeover bids estimating its value at nearly £4bn.

According to Sky News, the business has turned down several offers which would estimate its value at $5bn (£3.9bn), with growth fuelled by its continuing acquisition of businesses. 

The business, which is based in Manchester, currently owns beauty brands including Mio and retailer look and is set to acquire Acheson & Acheson, a beauty contract manufacturer and product developer, this week in a deal worth up to £100m. It also owns the luxury fashion retailer Coggles.

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