Applied Nutrition moves closer to stock market float
Sports supplement manufacturer Applied Nutrition is close to releasing a prospectus to float its shares on the London Stock Exchange, valuing the business at £500m.
Reports over the weekend said the leadership of the Liverpool-based team have met over 25 City fund managers recently.
In February theBusinessDesk.com reported that AJ Bell founder Andy Bell was to return to the front line of business as chairman of Applied Nutrition.
Bell has also invested in Applied Nutrition alongside the founders and JD Sports Fashion which holds a 30% stake in the fast growing business.
Also investing is JD’s former executive chairman Peter Cowgill.
Applied Nutrition was founded by Tom Ryder, which competes with THG as a supplier of supplements for sports people and gym goers, with commercial partnerships spanning combat sports, football, cycling and Rugby League.
Accounts for the year to the end of July last year revealed a huge 74% increase in turnover to £61.2m, and profits of £18.1m.
Tony Buffin, former chief executive of Holland & Barrett and operations chief of Travis Perkins PLC, has also joined the Board as a Non-Executive Director.
Applied Nutrition founder and chief executive Tom Ryder described the “extraordinary experience” Bell and Buffin will bring Applied Nutrition as it grows globally.
On joining Andy Bell said: “I agreed to become a shareholder in Applied Nutrition last year, attracted to the outstanding growth delivered by its strong leadership team, the quality and diversity of its products, and growing market share in over 60 countries. I am now excited to have the privilege of being Chair to support this fantastic UK business in its next phase of growth.”
Applied Nutrition is one of Europe’s fastest growing sports nutrition, health and wellness brands employing over 200 people at its HQ in Liverpool, England.
Founded in 2014 by CEO Tom Ryder, the business has grown from £11m sales in FY2020 to £62m in FY23. Its growth has come from its international distribution network which has landed the products in over 60 countries globally. Operating from its 100,000 square foot premises in Liverpool, Applied Nutrition manufactures 85% of its own products in an accredited facility and ships worldwide to distribution partners.
In late 2022 they opened an office in Plano, Texas to grow in the USA which is the largest market globally. The company has secured national listings in Walmart in its first year operating in the US alongside several US outlets.
In recent years the company has signed up a plethora of professional clubs and athletes including Fulham FC, Rangers FC, Wigan Warriors RLFC, UFC fighter Paddy ‘the Baddy’ Pimblett & former Tour de France champion, Sir Bradley Wiggins plus several others.
