Today’s news in brief-23/4/25
THG has rejected an unsolicited takeover bid for its Myprotein brand from Selkirk, describing the offer as “undervalued” and lacking sufficient funding. The proposal, which valued Myprotein between £400m and £600m, was largely structured in Selkirk shares, with additional cash payments dependent on new equity and debt issuance. THG’s board dismissed the bid due to execution risks and uncertainty over funding, confirming no further discussions with Selkirk. The company, which recently completed its Ingenuity demerger and refinancing, remains focused on growth and cash generation, with preliminary results expected by 30 April.
The Weston family has seen strong returns from its retail investments, with Wittington Investments paying out £154m in dividends, up from £128m the previous year. The majority of profits stemmed from its 56.2% stake in Associated British Foods (ABF), owner of Primark and brands like Twinings. ABF reported a £1.9bn operating profit, while Fortnum & Mason posted a 9% revenue increase to £228.3m. The update follows the departure of Primark CEO Paul Marchant over misconduct allegations, with ABF confirming Marchant acknowledged his “error of judgement” and apologised.
The Entertainer is set to launch its toy ranges in over 2,000 Tesco Express stores from April 2025, following a successful rollout in 850 Tesco supermarkets last year. The partnership, which created 1,200 jobs, will now bring popular toy lines like Hot Wheels and TY to convenience stores, further extending The Entertainer’s market reach. CEO Andrew Murphy hailed the collaboration as a success, while Tesco’s Pauline Chisholm emphasised the convenience for shoppers.
Outdoor and Cycle Concepts has rebranded as Cotswold Outdoor Group, aligning its name with its flagship brand. The company, which also operates Runners Need and Snow + Rock, is pursuing a premium retail strategy, with new stores planned in Merry Hill and Bristol. CEO Jamie Kristow highlighted the group’s focus on sustainability, including a 60% reduction in carbon emissions since 2019 and its Recycle My Gear initiative.
Fashion resale platform Vinted has partnered with style icon Alexa Chung to sell pieces from her designer wardrobe, with proceeds benefiting Endometriosis UK. Items from brands like Prada, JW Anderson, and Dior will be available from 4 May, offering fans a chance to own unique luxury pieces. Vinted CEO Adam Jay praised the collaboration, emphasising the appeal of pre-loved fashion with a story.
Luxury streetwear brand Represent has appointed former Dr. Martens CEO Kenny Wilson as its new chair. Wilson, who tripled Dr. Martens’ revenue during his tenure, will support Represent’s global expansion. Founder Paul Spencer cited Wilson’s strategic expertise and shared values as key to the brand’s next phase of growth.