The Hut Group Limited (“THG” or the “Group”), one of the world’s largest online beauty & wellbeing retailers, today announces the acquisition of Eclectic Hotel Group, comprising of the UK’s most prestigious luxury boutique hotels: King Street Townhouse and Great John Street Hotel.
Located in Manchester city centre, the high-end boutique hotels are among the highest rated sites in Manchester and provide 70 rooms in total, combined with award-winning events and entertaining space. The Eclectic Hotel Group was acquired from founders Eamonn and Sally O’Loughlin (Group Interior Designer), who will continue to own and manage Didsbury House Hotel and Eleven Didsbury Park, both of which were hived out the Eclectic Group prior to Completion.
The strategic acquisition demonstrates the Group’s innovative approach to effective engagement with consumers in both the online and offline environment. As such, the hotels will form part of THG’s growing marketing infrastructure that delivers enhanced consumer experiences, influencer and brand-led events as well as content creation.
Both hotels are located in Manchester City Centre, in impressive buildings that accommodate a selection of uniquely designed bedrooms, lounge and bar areas as well as roof-top terraces – both of which overlook Manchester. King Street Townhouse also houses an infinity pool, private screening room and a wine cellar dining room.
The acquisition is highly complementary to the Group’s existing ownership of the premium Hale Country Club & Spa which it acquired in July 2016.
The investment will also be supported by a £10m refurbishment upgrade plan.
Matthew Moulding, Founder and Chief Executive Officer of The Hut Group, said: “We are delighted with this recent acquisition, which comes at an exciting time for THG.
“As a fast-growing, brand-led business we are always looking to develop innovative approaches to drive greater engagement with our customers and today’s acquisition is testament to that strategy. With consumer behaviour continuing to evolve away from the traditional high street setting, these two highly prestige hotels will be instrumental in showcasing our leading Beauty and Wellbeing brands.”
Eamonn O’Loughlin, Founder of the Eclectic Hotel Group, said: “Without the support and commitment of our many fantastic employees over the past 20 years none of this would have been possible. A massive thank you to them. While it has been a difficult decision for us to take, we feel both hotels are going into the best of hands with Matthew and his team and we are extremely proud of the portfolio that we have built over the years.”
THG recently announced newly improved and extended Group banking facilities, in excess of $1 billion (USD) to support major investments in Beauty, Technology and Infrastructure, enabling the Group to continue to deliver on its growth plans.
The Group continues to invest in its proposition, particularly its rapidly-growing portfolio of Beauty brands retailed online through THG Ingenuity, its proprietary e-commerce technology platform. The platform supports a global ecommerce operation generating highly valuable global consumer insights and continues to power over 170 localised websites across 31 languages and 39 currencies.
The Hut Group was advised by KPMG for financial due diligence, Deloitte for tax due diligence and Gowling WLG for legals. The Vendors were advised by Convex Capital and Freeman Fisher