THG buys Perricone MD skincare for US$60 million

Perricone MD will join THG's strong portfolio of owned brands, including ESPA, Christophe Robin, Illamasqua and Eyeko.

Founded in 1997 by US celebrity dermatologist, Nicholas Perricone, the upmarket cosmeceutical brand bills itself as a global leader in ground-breaking skincare.

Available from Mecca stores and several leading websites in Australia, the Perricone MD range is also sold in Sephora in the US.  Bestselling franchises such as Cold Plasma, Acyl-Glutathione and Blue Plasma – all invented by Dr Perricone – form the core of the business.

Back in 2014, private equity heavyweight, TSG Consumer Partners, sold its stake in Perricone MD to London-based buyout firm, Lion Capital, for an undisclosed sum.

In December last year, Lion Capital announced it was considering the sale of the brand and was looking at a price tag of US$200 million.

The science-based brand with more than 100 products has now been sold to THG for US$60 million in cash. Formerly known as The Hut Group, the UK company is the largest online retailer of premium beauty products in Europe and just completed a record IPO (initial public offering) on the London Stock Exchange.

Perricone MD has been sold on Lookfantastic, the online beauty platform owned by THG for some time. According to THG: “In the last 12 months, Perricone MD has seen very significant growth on Lookfantastic, which has given further confidence in the acquisition rationale of the brand.”

Perricone MD will join THG’s strong portfolio of owned brands, including ESPA, Christophe Robin, Illamasqua and Eyeko, and is expected to increase its global reach through direct-to-consumer sales.

The online beauty and skincare sector is growing rapidly, adds Matthew Moulding, founder and CEO of THG. “This acquisition enables us to further strengthen our position as the world’s leading pure-play speciality beauty brand owner and retailer.”

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