THG is exploring plans to list its MyProtein nutrition business in the US following pressure from investors to separate the division, according to The Telegraph.
Shareholder Kelso Group upped its stake in the listed company to 8m shares earlier this year and has advocated for chief executive Matt Moulding to spin off the MyProtein arm among a host of suggested changes.
THG previously explored an IPO for its THG Beauty division, which include GlossyBox and Lookfantastic, but the nutrition arm is now a more likely contender, accordig to the report.
The group explored a possible takeover deal from Apollo earlier this year in a move that would see the business return to a privately-owned one.
However, THG eventually terminated discussions soon after as it believed the offer undervalued the group.
