Online retail company buys US site Dermstore.com and two UK-based nutrition suppliers

The Hut Group, the online retail company run by the billionaire Matthew Moulding, has spent more than £300m on acquisitions as it continues aggressive expansion plans after listing on the stock market.

It is buying Dermstore.com, an online skincare retailer, from the US retail chain Target for $350m (£259m). It is also spending almost £60m on the purchase of two UK-based nutrition suppliers, Claremont Ingredients and David Berryman.

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