Our Corporate team has acted for THG plc (THG) on the £103 million sale of its flavour manufacturing and development lab, Claremont Ingredients (Claremont), to international flavour specialist Nactarome Group.
Claremont, acquired by THG in late 2020 for £52 million, has played a key role in supporting the growth of THG's flagship sports nutrition brand, Myprotein.
Matthew Moulding, THG's chief executive, said: "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."
The team advising THG was led by Partner Chris Letters with support from Senior Associate Rory Chatterton and Associate Chloe Collins. Partner Paul Shaw and Principal Associate James Arnold assisted from the Tax team with further support from Partner Alexi Markham and Principal Associate Sarah Higgins on the new long term supply agreement between THG and Claremont. Partner Tom Baines advised on the real estate aspects.
Chris Letters commented: "We are delighted to have supported THG on this strategic disposal. The transaction enables THG to sharpen its focus on core growth areas, particularly Myprotein, while strengthening its financial position and securing its long term relationship with a key supplier. Congratulations to all involved."
Gareth Hill, Deputy General Counsel at THG added: "This transaction is an important step in our strategic roadmap, and the team at Gowling WLG have been outstanding partners throughout. Their commercial approach and ability to operate seamlessly as an extension of our in-house team were instrumental in navigating a complex process and delivering a successful outcome."
Gowling WLG's global Corporate practice offer a complete range of services, from domestic and cross border M&A, private equity and joint ventures through to complex reorganisations, providing industry-leading legal support and sector expertise to deliver on clients' objectives.