Goldman Sachs takes 4.8% stake in THG

Charlie Spargo's picture
by Charlie Spargo

Investment bank and financial services provider Goldman Sachs has become one of the largest shareholders in ecommerce leader THG, following work on its IPO in 2020.

Goldman Sachs, whose HQ is in New York and has operations worldwide, now has a 4.8% holding in the Manchester-headquartered company, which raised £1.88 billion when it was admitted to the London Stock Exchange one year ago.

Investors with a larger stake in THG include SoftBank, which led a $1 billion investment round in the online retail giant in May; Jupiter Asset Management; BlackRock; and CEO Matthew Moulding, who remains THG's largest shareholder.

When THG floated, Moulding achieved £830 million in shares.

In August it was announced that the group was to acquire Cult Beauty in a deal worth £275 million. It acquired Brighter Foods in April and skincare brand Perricone MD last year, for $60m in cash .

The other banks involved in THG's IPO - which at the time was the largest stock market debut since 2013 - were Citi, JP Morgan, Barclays, HSBC, Jefferies and Numis.

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