The Hut Group takes hold of cycling gear site Probikekit

 
Ben Southwood
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THE HUT Group yesterday announced it had bought Probikekit, the latest in a string of acquisitions from the internet retailer.

By snapping up the firm, which counts retail veterans Sir Stuart Rose and Sir Terry Leahy among its backers, the outfit has jumped on the bandwagon of the recent cycling craze, driven by Olympic stars Victoria Pendleton, Bradley Wiggins and Chris Hoy.

The company also acquired Lookfantastic, a luxury hair and beauty website, and Myprotein, which sells sports supplements and vitamins, last year.

Richard Pennycook, Morrisons’ outgoing finance director, became the latest high profile executive to join the board in October.

The online retail group was founded in 2004, and currently runs a total of 16 websites, including Zavvi.