THG Announces Sale of OnDemand Division to Management Team with Financing from Gordon Brothers

THG, the online health and beauty group based in London, has announced the sale of its OnDemand division, which includes the gifting website I Want One Of Those and the consumer goods retailer Pop in a Box, to its management team with financing from Gordon Brothers, a specialist retail advisory and investment firm.

The deal is expected to be announced on Friday and will complete THG's disposal of non-core assets, which were sold for several million pounds.

THG's decision to sell OnDemand comes after a successful rebound in the company's shares this year, despite the termination of talks about a takeover by Apollo Global Management.

Under the leadership of its founder and chief executive, Matt Moulding, THG has stated that it is now focused on achieving profitability and cash generation.

The sale of OnDemand is the latest in a series of divestitures by THG, which earlier this year also sold ProBikeKit to Frasers Group, a high street retailer controlled by billionaire Mike Ashley.

The proceeds from the sale of these non-core assets will enable THG to concentrate on its core health and beauty business, which includes popular brands such as Gillette, L'Oreal, and Boots.

Gordon Brothers, the new owners of OnDemand, have a proven track record in the retail industry and will provide the necessary financing to support the growth of the business.

The management team of OnDemand will continue to work with THG's Ingenuity logistics arm, which will provide essential supply chain and logistics support.

Overall, the sale of OnDemand is a strategic move by THG to streamline its operations and focus on its core health and beauty business.

The proceeds from the sale of non-core assets will provide a significant boost to the company's financial position, enabling it to invest in new growth opportunities and drive long-term value for its shareholders.