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The Guardian - UK
The Guardian - UK
Business
Sarah Butler

Kelso Group ups stake in THG and calls for spinoff of nutrition business

THG Kelso Matt Moulding United States MyProtein
Signage is seen on a THG warehouse building in Manchester, Britain, January 18, 2022.
Kelso Group said its increased stake in THG was prompted by its belief in the ‘significant intrinsic value’ of Myprotein. Photograph: Phil Noble/Reuters

The activist investor Kelso Group has upped its stake in THG and called on the online retail specialist to consider separating out its Myprotein nutrition business.

Kelso, which first took a stake in struggling THG in January, said it now had 8m shares, through a mix of ordinary shares and contracts for differences. This represents about 0.55% of THG’s total share capital.

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