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THG to acquire Dermstore.com for $350 million from Target
StockMarketWire.com
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Technology platform THG struck an agreement to acquire Dermstore.com, the US number 1 pure-play online retailer of prestige skincare and specialty beauty brands for $350 million in cash from US retailer Target.
The deal represented about 1.8x 12 months' forward revenue multiple and was subject to regulatory approval in the United States, the company said.
The company also acquired two of its long-standing UK-based nutrition product suppliers, Claremont Ingredients and David Berryman for a combined purchase price of £59.5 million in cash.
Story provided by StockMarketWire.com
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