The Hut Group acquires IdealShape & IdealFit, the fastest growing female weight management & sports nutrition brand in the US
The Hut Group, Europe’s fastest growing online Health & Beauty brand owner and retailer, has acquired Ideal (IdealShape, LLC), the leading weight management and sports nutrition retailer, which trades under the IdealShape (www.idealshape.com) and IdealFit (www.idealfit.com) brands.
Launched in the USA in 2003, Ideal generates $60m of online, direct-to-consumer revenues annually and boasts an annual growth rate of over 250%. The acquisition reaffirms THG’s position as the preeminent global online Health & Beauty brand owner and retailer.
IdealShape and IdealFit currently retail 57 products including weight management and protein shakes, bars and supplements, reaching customers through user-generated content, personal trainer ambassadors and a large highly engaged social media audience.
The deal has been led by Adam Knappy, the 27-year-old CEO of THG’s Lifestyle division.
At completion of the acquisition, Ideal was fully integrated onto THG’s technology and operating platform; including the Group’s 250,000 sq. ft. distribution and production centre in Kentucky, which began operation in 2016. The acquisition continues the expansion of THG’s consumer reach in North America, following the US launches of Myprotein (2014) and Lookfantastic (2015) and the recent acquisitions of Mio Skincare (2015), Grow Gorgeous (2016) and Skinstore (2016).
Chief Executive Officer and founder, Matthew Moulding commented “I am delighted to welcome the Ideal Shape team to the Group. This is a genuinely innovative and popular brand with a fast growing and complementary customer base in the USA. We look forward to sharing our in-house manufacturing and technology platform to further develop the range and take the brand to new audiences around the world.”
THG has a track-record of rapidly scaling brands through a combination of product range development and internationalisation. The IdealShape and IdealFit ranges will expand with the benefit of the Group’s best-in-class nutrition and weight management production and research centre housed within its 1.1 million sq. ft. facility in Omega, Warrington. Ideal will internationalise via a rollout of country-specific websites, leveraging THG’s proprietary technology and international platform which currently powers over 100 country-specific websites.
IdealShape and IdealFit will join THG’s impressive portfolio which includes Myprotein, Lookfantastic and Zavvi.
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Notes to Editors
About The Hut Group
THG is a nimble giant with a start-up culture, led by our founder Matthew Moulding and backed by global heavyweight investors KKR, Blackrock, Sofina and Balderton Capital.
Built on a foundation of industry-leading technology, a world-class team and a scientific approach to building global brands, The Hut Group are fast becoming the world’s most influential online retail organisation.
Part of the Northern Powerhouse near Manchester, we operate over 100 high-profit websites that sell premium, non-perishable FMCG direct to consumer to the fast-growing, global Health & Beauty markets via our in-house technology and operating platform.
The Hut Group is the #1 place for ambitious young talent that want to run a business or build industry-leading technology. Our 27-year-old
Divisional CEO Adam Knappy led the Ideal acquisition and we have a 25-year-old group CMO managing a team of 190. We think this is proof of our meritocracy and our ability to nurture the best talent in the industry.
Pioneering Technology Platform
THG is a major British technology success story. Our in-house team design, develop and build bespoke proprietary technology that is used by hundreds of millions of people worldwide across 190 + countries.
Our unique platform helps us dispatch 37 million items to customers across the world, taking us to the top of the Sunday Times profit track for a second consecutive year.
The platform was recognised as E-tailer of the Year by Retail Week for “Becoming Europe’s fastest growing E-tailer, through leveraging proprietary technology, data and a disruptive model to deliver own brand products direct to global consumers”.
With over 100 high-profit health and beauty websites run in-house, our platform is now the partner of choice for global brand partners including Unilever, Nintendo & Daily Mail.
Global Brand Leadership
Our current portfolio includes the World’s #1 online sports nutrition brand (Myprotein) and Europe’s #1 online beauty retailer (Lookfantastic).
Health: including www.Myprotein.com
The Group’s own brand portfolio includes Myprotein, IdealShape, IdealFit, Exante, My Vitamins, Mio Skincare and Grow Gorgeous.