THG Sells Claremont for £103M, Shares Rise

THG (LON: THG) shares are up around 2% in early Wednesday trading after the company announced it has agreed to sell its Claremont Ingredients unit to Nactarome Group for approximately £103 million in cash, marking a near-doubling in value since its £52 million acquisition in 2020.

The disposal supports THG’s ongoing strategy to simplify its business and reduce debt. The company said the proceeds will be used to lower net leverage and borrowing costs, moving the company closer to its goal of a neutral net cash position.

THG also confirmed a long-term supply agreement with Nactarome, a company majority-owned by TA Associates, to ensure continuity in Myprotein’s product development.

“Claremont has been a huge success, building Myprotein's global licensing franchise from a standing start to partnering with category-leading brands in just a few years,” said CEO Matthew Moulding. “After receiving a highly competitive offer, the timing was right to realise that value.”

THG also provided an update on its H1 2025 trading, revealing that adjusted EBITDA fell to around £24 million from £37.1 million a year earlier, primarily due to sustained high whey prices.

Revenue was in line with earlier guidance, while net debt stood at approximately £330 million before the Claremont sale, and £230 million pro forma.

Looking ahead, THG expects 10%–12% revenue growth in H2 for its Nutrition division, but will limit price hikes to prioritise market share. Group adjusted EBITDA for H2 is projected at £50 million.

Moulding said the move underscores THG’s focus on its core strengths and its intent to maintain balance sheet discipline.