The Hut Group to acquire Cult Beauty for £275m.

The Hut Group, a British e-commerce company agreed to acquire Cult Beauty, the UK based online beauty retailer of prestige and emerging independent brands, for £275m ($382m). "Cult Beauty is frequently the partner of choice for emerging indie brands due to its personalised, content-led approach and enthusiastic consumer base who are continually seeking new, innovative solutions to complement their beauty routines," Matthew Moulding, THG Executive Chairman and CEO.