Applied Nutrition makes first step towards £500m November float

Applied Nutrition, the Liverpool-based sports nutrition, health and wellness brand, his fired the starting gun on its first steps today (30 September) towards an initial public offering (IPO) and that it intends to publish a registration document. 

Shares will available to institutional and retail shareholders and be admitted to the main market of London Stock Exchange plc.

No announcement has been made on price, but according to sources familiar with the company a £500m valuation is likely.

Thomas Ryder, CEO of Applied Nutrition, said: “Since launching our first Applied Nutrition product just over ten years ago, we have demonstrated a consistent track record of delivering strong profitable growth, becoming a trusted, premium sports nutrition, health and wellness brand in an industry that continues to grow at pace.

“I am incredibly proud that a large proportion of our manufacturing and new product development is based in Knowsley, Liverpool. Keeping manufacturing and new product development in-house means we can innovate faster and bring new products to market efficiently. Our team’s ability to design, test, and refine products under one roof gives us an edge – it’s a streamlined process that allows us to move from concept to shelf in a matter of weeks. Alongside this, we have developed a successful, low risk and cost-effective go-to-market strategy that delivers strong and profitable growth, and allows us to scale quickly and easily in existing and new geographies.

We are only scratching the surface of our growth opportunity and this IPO positions us ideally for the next step of our development. With an exciting new product roadmap and opportunities to grow with new and existing customers, we are confident it will enable us to build the world’s most trusted and innovative sports nutrition, health & wellness brand.”

The float could also provide a windfall for JD Sports, which in 2021 acquired 32% of the share capital of Applied Nutrition from Thomas Ryder, as a strategic initiative alongside its JD Gyms business.

Peter Cowgill, former CEO of JD, also holds a small personal stake in Applied Nutrition.

Andy Bell

Andy Bell, Non-Executive Chair of Applied Nutrition, said: “A float on the London Stock Exchange would mark the next step in Applied Nutrition’s journey to becoming the world’s most trusted and innovative sports nutrition, health & wellness brand. The Company has delivered impressive growth to date, driven by the increasing consumer interest in health and wellness, and the consistent delivery of new products to Applied Nutrition’s global customer base. We are excited at the prospect of widening our shareholder base and we are confident that a London-listing would further enhance our brand awareness and provide a platform for continued growth.”