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UK's Hut Group to buy online retailer Dermstore from Target for £259 million

(Reuters) - E-commerce company Hut Group said on Tuesday it would buy U.S. online retailer Dermstore, which sells skin care and beauty products, from Target Corp for $350 million (259.39 million pounds) in cash.

The British company, which owns retail brands such as Lookfantastic and skin care group ESPA, also said it had bought UK-based nutrition product suppliers Claremont Ingredients and David Berryman for 59.5 million pounds ($80.29 million) in cash.

($1 = 0.7411 pounds)

(Reporting by Tanishaa Nadkar in Bengaluru;Editing by Anil D'Silva)