US PRIVATE equity firm KKR, the owner of Boots, is set to take a major stake in online retailer
A group of investors led by KKR will buy just under 20 per cent of the Manchester-based company from existing shareholders for about £100m. The Hut, founded in 2004, sells a diverse range of upmarket goods ranging from Beats headphones to
KKR will finance the deal, first reported by
The group made a similar balancesheet financed acquisition earlier this month when it bought Scottish energy firm
The buyout will provide a windfall for
The retailer was founded by chief executive
The Hut had been a prime candidate to list on the
KKR is unlikely to return it to public markets anytime soon after the group was stung by the initial public offering of another of its
The group has seen the value of its holdings in the company tank from 245p down to the current price of 183p on Friday.
All parties declined to comment.
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