“The U.K.-based group will purchase the digital platform from private shareholders, including majority investor Mark Quinn-Newall, who also cofounded Net-a-porter.”
The RNS annoucement to the London Stock Exchange can be viewed here.
Mark Quinn-Newall (co-founder Net-A-Porter) chaired the Exit Committee who were also responsible for the appointment of Threadstone Capital to act for Cult Beauty in the transaction.
News Media reaction:
6-08-21 Vogue Business: The deal takes Cult off private shareholders’ hands, including majority investor Mark Quinn-Newall – co-founder of Net-a-Porter [Click Link]
04-08-21 Yahoo News: Majority investor Mark Quinn-Newall, who had also cofounded Net-a-porter [Click Link]
04-08-21 WWD: THG Aquires Cult Beauty as Pure Plays Explode [Click Link]
04-08-21 WWD: The Hutt Group snaps up Cult Beauty in £275m deal [Click Link]
04-08-21 Reuters: The Hut Group buys Cult Beauty [Click Link]
04-08-21 BusinessLive: THG is acquiring Cult Beauty from private shareholders including majority investor Mark Quinn-Newall, the co-founder of Net-a-Porter, and co-CEO Alexia Inge. [Click Link]
04-08-21 Evening Standard: Payday for privately-held Cult’s founder and co-CEO Alexia Inge and its majority investor Mark Quinn-Newall, a founding partner of Net-a-Porter. [Click Link]
04-08-21 This is Money: Other investors to benefit from the sale include Mark Quinn-Newall, 55, the cofounder of Net-a-Porter. [Click Link]
04-08-21 The Guardian: Shareholders, which include luxury fashion site Net-a Porter founder Mark Quinn-Newall’s Neurotribes investment fund. [Click Link]
04-08-21 London Stock Exchange: THG is acquiring Cult Beauty from private shareholders including majority investor Mark Quinn-Newall (co-founder of Net-a-Porter) [Click Link]
04-08-21 Sky News: The Hut Group applies finishing touches to £275m Cult Beauty takeover [Click Link]
