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THG Acquires Dermstore

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Dermstore will expand THG's e-commerce reach.

THG, which recently purchased Perricone MD, has acquired Dermstore from Target, which recently inked its own deal with Ulta Beauty, per Bloomberg. THG paid $350 million in cash for the retail platform, which is expected to add approximately 135 million pounds to its sales.

The deal was fueled by the $2.6 billion THG raised in its September IPO.

THG is also acquiring its U.K.-based Claremont Ingredients and David Berryman.