// Apollo drafts in retail veterans Camillo Pane and Tony Buffin to help draw up a firm offer for THG
// The US private equity giant has until May 15 to confirm whether or not it will make an offer for the firm under takeover rules
A former chief executive of Rimmel owner Coty has been drafted in to help Apollo Global Management draw up a firm offer for THG, Sky News reports.
The title has learnt that the US private equity giant has brought in Camillo Pane and Tony Buffin, a former CEO of Holland & Barrett, to advise on its interest in THG.
By revealing its involvement, Apollo is likely to strengthen expectations that it will make a formal offer to buy the health and beauty retailer before a deadline set by the Takeover Panel on May 15th.
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It is unclear on Tuesday if Pane or Buffin would have any ongoing role in the business if Apollo succeeds in taking over its target, which owns MyProtein, Cult Beauty and more.
THG has had a chequered history since its stock market debut back in 2020 with shares down more than 80% since its flotation – prior to this week’s bid approach.
Last year, the business rejected several takeover proposals last year, which founder and chief executive Matt Moulding said had all been “unacceptable” and had failed “to reflect the fair value of the group”.
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