CB, which stocks north of 300 brands from Charlotte Tilbury to Drunk Elephant and cultivates 1.7 million shoppers, is what THG Chief Executive Officer Matthew Moulding calls a “partner of choice” for emerging indie brands given its personalized approach and providing innovative solutions to shoppers’ beauty routines.
The merger is expected to accrue a projected $195.2 million of net sales by 2022.
Moulding anticipates the acquisition to be completed by year’s end—ample time to give Cult Beauty access to the global digital features which will lay the foundation for future growth. In addition, Cult Beauty’s brand partners will also be offered access to THG’s beauty box subscription business and digital marketing services.
The acqusition of Cult Beauty is just the latest deal mady by THG. Last year, THG acquired Perricone MD and Dermstore.