THG buys Claremont Ingredients, David Berryman for £60m

By Jerome Smail contact

- Last updated on GMT

Pic: Getty Images
Pic: Getty Images

Related tags: Ingredients & nutrition, Finance

Retail giant The Hut Group (THG) has acquired two nutrition suppliers, Claremont Ingredients and David Berryman, for an approximate total of £59.5m.

Stoke-based Claremont Ingredients, a long-term supplier to THG, produces liquid and powder flavourings for sports nutrition products. The deal will see Claremont owner and managing director Martin Pinfold step down from the board, along with finance director Katharine Pinfold.

Matthew Moulding, chairman and chief executive of THG, said: “Claremont will play a key role in developing flavours tailored to local tastes across the globe.”

Product development

David Berryman is a fruit-based ingredient specialist based with canning and bottling capabilities. Lawyers at Walker Morris advised the shareholders of the Luton-based company on the acquisition by THG, which was completed for an undisclosed sum.

Richard Naish of the corporate team at Walker Morris said: “David Berryman is well-known within the food and drink industry as a high-quality, innovative supplier of fruit ingredients, with a strong product development team. It has a proud heritage and is committed to continuing to develop and serving its key sectors. 

“The acquisition by THG will provide further investment to enable a broader range of products to be developed and manufactured,” ​Naish added.

The two acquisitions complement THG’s performance nutrition brands, which include Myprotein, Myvegan and Myvitamins.

Moulding said: “Together these acquisitions will enable THG to significantly accelerate the launch of further product innovation to global markets, while increasing the proportion of THG Nutrition products wholly manufactured in-house.”

Spending spree

THG floated its shares on the London Stock Exchange in September 2020, raising £1.9bn at 500p per share in the biggest public offering in the UK since 2013.

As well as buying Claremont Ingredients and David Berryman, the company has acquired online skincare retailer Dermstore.com for £259m, bringing its spending spree up to nearly £320m.

Moulding said: “A key driver behind the decision to list THG on the London Stock Exchange just over three months ago was to enable the group to make major global investment.

“Accessing capital through a London listing has enabled us to accelerate our growth plans and build out a global leadership position.”

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