21st Apr 2023 14:28
(Alliance News) - Kelso Group Holdings PLC on Friday said it has acquired further shares in THG PLC via a contract for difference, bringing its total interest to 8.0 million shares.
Kelso is an investment firm focused on UK small and mid-cap companies. THG, a Manchester-based online beauty products retail platform, is Kelso's first such investment.
The company said a key driver of its investment in THG is the "significant intrinsic value of the nutrition business (MyProtein)," which it said is caused "by the shift in consumption away from chocolate and sugar to health and nutrition".
The company said any offer made for THG as a whole would only be accepted if it reflected the underlying value of the business, Kelso said.
Kelso shares rose 5.1% to 3.68 pence each in London on Friday afternoon.
By Harvey Dorset, Alliance News reporter
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