Forsters advises on the £275 million sale of Cult Beauty to The Hut Group
A Forsters team led by Head of Corporate, Craig Thompson, and Associate, James Hamilton, advised Net-a-Porter founder Mark Quinn-Newall's Neurotribes investment fund on the sale of its substantial stake in Cult Beauty to The Hut Group for £275 million.
Mark Quinn-Newall's investment funds were the major shareholders and commercial drivers behind Cult Beauty. The £275 million deal recognises the increased interest in online retail since the pandemic began.
Craig Thompson commented: "This was a fantastic deal for Mark and his investment companies, representing the second time (the first being Net-a-Porter) that Mark has driven an online retailer to huge success. It was a pleasure to work with long time Cult Beauty lawyer, Mathew Cowan at Bracher Rawlins, who expertly steered the transaction to a successful close".
The deal was covered by Global Legal Chronicle on 27 August.
A cross departmental team, led by Client Relationship Partner, Craig Thompson, and Senior Associate Daniel Bryan, has advised long-standing client, Greybull Capital, on their high-profile purchase of the McLaren Group's Applied business division.