Online beauty store expands after buying US manufacturer

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Matt Moulding receives one of many awards
Matt Moulding receives one of many awards Credit: The Hut Group

AFTER receiving a staggering bonus of £1 billion (€1.1 billion) and promising to pay his £750,000 (€825,000) annual salary to charity, Matt Moulding, the brain behind the UK Hut Group has gone on the acquisition trail.

They have purchased online skincare firm Dermstore from US retailer Target for £259 million (€285 million) and then added UK nutrition product suppliers Claremont Ingredients and David Berryman for a further £59.5 million (€65.5 million).

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Only floating on the UK Stock Market in September of this year, the online beauty products company has seen share prices grow by 50 per cent since launch.

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