The Hut devours Myprotein.com
Thursday 02 June 2011
The Hut, the online retailer, has acquired the sports nutrition retailer
Myprotein.com in a deal worth £58m. The fast-growing internet specialist, which is considering a flotation this year, said Myprotein would complement its acquisition of Mankind Direct, the web retailer of men's grooming products, for £2.5m last year.
Founded in 2004 by its chief executive Oliver Cookson, Myprotein is expected to grow sales 56 per cent to £25m this year across its websites in countries such as the UK and France.
Last month, The Hut – which is chaired by Angus Monro, the former Matalan chief executive – appointed Rothschild to advise on its options, including a flotation later this year. It bought the music e-retailer Zavvi.com from administrators in 2009.
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