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The Hut Group investment reaches €1bn

the hut group

Coggles owner The Hut Group (THG) is reported to have raised additional funding to reach a total of €1bn (£832m) of investment to help drive expansion plans.

Sky News said investors BlackRock and Sofina are injecting £66m of new equity between them.

The Hut Group announced in November it was issuing £510m of debt with a seven-year maturity, and had secrued a five-year £150m revolving credit facility, underwritten by Barclays, HSBC, Citi and Santander

Sky News reported that a £200m package was also provided to a new THG subsidiary.

THG reported gross profit of £417m for the year to 31 December 2018 – up 24% from £318m in 2017.

It said it has grown sales from £80m in 2010 to more than £1bn in 2019, two-thirds of which are generated internationally across Europe, Asia and the US.

THG operates more than 100 fashion, health, beauty, fitness and lifestyle direct-to-consumer websites internationally. Fashion websites include All Sole, Coggles and online department store The Hut.

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