THG, owner of Myprotein, partners with SG Safety Corp. to expand distribution in South Korea. CJ Group will manufacture Myprotein products locally, while THG focuses on protein powders. The deal deepens Myprotein’s presence in South Korea, a key market with a growing sports nutrition industry valued at $1.88bn in 2023.

The partnership marks THG’s first licensing agreement in South Korea, aiming to launch in the fourth quarter. Neil Mistry, THG Nutrition CEO, highlights opportunities for growth in established and emerging product categories. Myprotein’s partnerships in Asia, like with Japan’s Itochu, complement the agreement with SG Safety.

SG Safety CEO, Jung-Hyun Sung, expresses excitement about expanding Myprotein in South Korea. The partnership aims to meet the growing demand for high-quality nutrition products. THG operates THG Nutrition (Myprotein) and THG Beauty, with previous partnerships in Asia. The company spun-off its tech platform, THG Ingenuity, in 2024.

In April, THG rejected a takeover proposal for Myprotein, deeming it undervalued. First-quarter revenue was £371.4m, with THG Nutrition showing slight growth. Full-year revenue growth guidance remains in the “mid-single digits”. THG also announced the sale of Claremont Ingredients and reported a decline in first-half adjusted EBITDA.

THG projects second-half revenue growth for THG Nutrition, aiming for 10-12%. The company estimates a group adjusted EBITDA of around £50m for the second half of 2025. The deal with SG Safety in South Korea enhances Myprotein’s global presence and market reach.

Read more at Yahoo Finance: THG strikes Myprotein licensing deal in South Korea