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THG Holdings Announces Acquisition Of Dermstore.com

THG Holdings plc has agreed to acquire Dermstore.com for $350 million in cash from US retailer Target Corporation. Dermstore is a pure-play online retailer of prestige skincare & specialty beauty brands in the United States. THG anticipates Dermstore.com to contribute for 11 months of the Group's 2021 financial year, adding sales of approximately 135 million pounds and adjusted EBITDA of approximately 3 million pounds.

THG Holdings has also acquired two of its UK-based nutrition product suppliers, Claremont Ingredients Limited and David Berryman Limited, for a combined purchase price of 59.5 million pounds payable in cash. The Group expects the acquisitions of Claremont & Berryman's to add sales of approximately 15 million pounds and adjusted EBITDA of approximately 4 million pounds in fiscal 2021.

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