Could Manchester-based THG be about to sell some of its standalone brands in a bid to wipe out its debt?
The speculation has been fuelled by a paragraph in today’s upbeat interim results, which revealed group revenue was up 7.2 per cent in H1 2026.
In the outlook and guidance section of the report, THG said: “Following the successful sale of Claremont Ingredients in August 2025 for £103m, several of the group’s other non-strategic, standalone brands and assets have attracted bid interest.
“Should any sale occur at some point in the near future, it is expected that any proceeds would be higher than that for Claremont Ingredients, moving the group from net debt to net cash positive for FY 2027.”
THG doubles its money by selling Claremont for £103m
THG doubled its money in the Claremont deal, which reduced its net debt from £330m to £230m in one stroke.
The eCommerce giant hasn’t revealed which of its brands have attracted ‘bid interest’ – or whether they’re even for sale – but it’s highly unlikely it would consider selling its crown jewel, Myprotein.
Brands more likely to be sold could include US prestige skincare brand Perricone MD, which THG acquired for $60m in cash in 2020.
Another potential target could be New Jersey-based prestige beauty developer and manufacturer Bentley Laboratories, which THG acquired in May 2021 for $255m on a cash and debt-free basis.
A third possibility could be Dermstore.com, which THG snapped up from US retailer Target Corporation for $350m at the end of 2020.
Dermstore is the number one pure-play online retailer of prestige skincare and speciality beauty brands in the US.
There’s no evidence that any of these brands are for sale, but they would all be likely to attract a significant price.
The speculation comes on the back of THG’s positive interim results, which saw revenue rise to £828.7m in the first half of 2026 – ahead of previous guidance of 6.5 per cent growth.
THG also reported H1 adjusted EBITDA of £42.8m – up 109 per cent year-on-year and ahead of guidance of at least £40m.
Both THG Beauty and THG Nutrition have now recorded four consecutive quarters of growth, partly on the back of the performance of Myprotein.
Myprotein strengthened its position as the world’s largest online sports nutrition brand, delivering revenue growth of 9.2 per cent, increasing to 12.1 per cent excluding Asia.
THG co-founder and CEO Matt Moulding, who was included in BusinessCloud’s Founder 250 list, said: “THG delivered a strong first half, reflecting our successful transition from a capex-intensive technology and consumer brands group into a highly profitable global leader in Nutrition and Beauty, focused on delivering sustainable growth in free cash flow.
“As a business, we delivered strong revenue growth and our Adjusted EBITDA more than doubled, driven by a stellar performance from the Myprotein brand.”
“The group is now clearly reaping the rewards of Myprotein’s global rebrand delivered across 2023 and 2024, alongside the expansion of the brand into licensing, activewear and higher-margin categories.
“Brand recognition continues to reach record highs, supporting a 57 per cent increase in Myprotein branded products sold worldwide in H1, to 58.5m products.
“The brand is on track to sell over 130m products in FY 2026, which we believe makes Myprotein not only the world’s largest sports nutrition brand, but also the fastest-growing established brand by product volumes.”
Moulding said the online retailer was entering the second half of the year with ‘real momentum’ while recognising challenges around consumer discretionary spending, record-high whey commodity pricing and recent EU tariffs.
He said: “The group has delivered significant initiatives to mitigate these headwinds, supporting FY 2026 consensus, while positive signs around the direction of whey input costs are encouraging for the future.”
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