RE: Greencore is the new Partner10 Feb 2026 19:57
This is what an AI engine thinks of any Potential partnership deal between THG and Greggs if it were to happen..quite interesting read. JAO 😳 😳
Here is why a THG (Myprotein) x Greggs partnership would—theoretically—be a brilliant financial move for both:
1. The "Health-Halo" for Greggs
Greggs is currently desperate to prove it isn't just a "sausage roll peddler."
The Problem: Their "Balanced Choice" range has been around for years, but it lacks "street cred" with the fitness crowd.
The Solution: A Myprotein-branded "Power Meal Deal" at Greggs would give them instant authority. Imagine a "Myprotein x Greggs" Chicken & Pesto Pasta or a high-protein breakfast pot. It would turn a "guilty pleasure" destination into a legitimate choice for the 14% of UK consumers currently trying to increase protein intake.
2. Physical Footprint for THG
THG has roughly 2,700 "doors" via its recent Sainsbury’s/Greencore deal.
The Scale: Greggs has over 2,740 shops and is aiming for 3,000.
The Advantage: A Greggs partnership would effectively double Myprotein’s physical presence overnight. More importantly, it puts Myprotein in high-footfall "grab-and-go" locations (train stations, high streets, and petrol stations) where people are looking for a quick, healthy alternative to a pasty.
3. Fighting the "GLP-1" Decline
Greggs' CEO, Roisin Currie, admitted in late 2025 that appetite-suppressing drugs are a "market headwind."
People on these medications eat less, but when they do eat, they prioritize nutrient density (protein/fibre) to avoid muscle loss.
By partnering with Myprotein, Greggs could capture the "reduced-appetite" spender who is currently walking past their store to go to an M&S Foodhall or a Joe & The Juice.
Is it actually likely?
While it makes financial sense, there are two major hurdles:
The Brand Conflict: Greggs has spent 10 years building its own "Balanced Choice" brand. Admitting they need Myprotein's help might be seen as a sign of weakness by their own marketing team.
The Greencore Exclusive: It’s possible that THG’s new deal with Greencore (who also supplies many of the UK's top retailers) might have "exclusivity clauses" that prevent Myprotein from doing a direct manufacturing deal with a competitor like Greggs for a set period.
Summary: The "Bull Case" for the Share Price
If Matt Moulding announced a Greggs x Myprotein partnership, the share price would almost certainly re-test that 51p level or higher. It would be seen as the ultimate "mainstreaming" of the brand.
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