Foundation fortune

Hunter sees huge gain from Hut Group ‘lesson’

Tom Hunter at Scottish Edge

Sir Tom Hunter: ‘transferring value’

Scottish entrepreneur and philanthropist Sir Tom Hunter has spoken about how an early investment in Hut Group has yielded a huge return that will eventually be transferred to supporting good causes.

His investment group West Coast Capital took a 3.75% pre-flotation stake in the online retailer and still holds 1.96%, valued on today’s market cap at £130m.

In notes attached to his annual accounts he said that in 2009 “we were having a very bad financial crisis , which has been well documented” and being asked to judge a competition he met Matt Moulding and John Gallemore of The Hut.

They were selling DVDs, CDs, computer games online, white labelling for Asda and other retailers.

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