Online beauty store expands after buying US manufacturer

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).

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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John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Share your story with us by emailing [email protected], by calling +34 951 38 61 61 or by messaging our Facebook page


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