Frasers Group ups stake in THG days after increasing AO World share

Frasers Group has raised its stake in MyProtein owner THG to 10.9%, up from 6.1%, according to a regulatory filing.

The Sports Direct owner now holds 151.9 million shares in THG, valued at approximately £49.1 million at the current market price.

The increase in Frasers’ shareholding comes after a series of investments and partnerships between the two companies, including Frasers’ £10m contribution to THG’s fundraising efforts to support the spin-off of THG’s Ingenuity technology business.

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The investment follows a broader trend of Frasers Group strengthening its position in the ecommerce sector.

Last week, the company increased its stake in online electricals retailer AO World to 25.01%, up from 24.02%. Frasers has similarly boosted its stakes in other online retailers like Asos and Boohoo in recent months.

THG founder and chief executive Matthew Moulding has also been heavily involved in the company’s recent fundraising activities.

Last week, the online group successfully raised £90m in a combination of share placing and refinancing measures, which included a £60 million contribution from Moulding himself. This fundraising is part of THG’s strategy to reduce debt and simplify its capital structure.

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