Online group THG has sold its OnDemand business – which includes entertainment specialist Zavvi – to the division’s management.
The deal follows the sale earlier this year of ProBikeKit to Frasers Group.
The disposals raised £4m for THG and came as the group streamlines operations to concentrate on profitability.
The purchase by management of OnDemand, which also includes gifts site I Want One of Those, was funded by specialist investor Gordon Brothers.
THG said the business will remain a customer of its Ingenuity technology and digital services platform.
THG chief executive Matthew Moulding said: “Through the years, our incubator division OnDemand has cultivated our talent, technology and trading strategies.
“I am delighted to see management and Gordon Brothers continuing the fantastic work and I have no doubt the ProBikeKit business will continue to thrive under Frasers Group.
“We will remain close partners with both the OnDemand management team and Frasers Group through continued Ingenuity services.”
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