Liverpool city region sports nutrition venture Applied Nutrition is set enter the London Stock Exchange in November in an expected £500m flotation. Tony McDonough reports
Sports nutrition business Applied Nutrition is expected to be valued at around £500m when it goes public on the London Stock Exchange in November.
On Monday the Merseyside company announced its flotation plans, first revealed in the media earlier this year. This initial public offering (IPO) will see shares made available to institutional and retail investors.
Founded in 2014 by Kirkby-born Tom Ryder, the company has established itself as one of the fastest-growing privately owned sports nutrition brands in Europe. Its ABE workout products are stocked in hundreds UK gyms.
Operating from a 100,000 sq ft manufacturing facility in Knowsley, Applied Nutrition exports its products to more than 60 countries. It partners with football clubs, including Glasgow Rangers and Fulham, as well as MMA, basketball and rugby professionals.
In the 12 months to July 31, 2023, the firm saw revenues rise 73% to £61.2m and an 82% uplift in pre-tax profits to £17.7m.
Tom Ryder said: “Since launching our first Applied Nutrition product just over 10 years ago, we have demonstrated a consistent track record of delivering strong profitable growth and become a trusted, premium sports nutrition, health and wellness brand.
“I am incredibly proud that a large proportion of our manufacturing and new product development is based in Knowsley. 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.
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“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.”
In April, former JD Sports executive chairman Peter Cowgill took a “multi-million pound” stake in Applied Nutrition. JD itself acquired a 30% stake in the business while he was at the helm of the sports and fashion retailer.
“We are only scratching the surface of our growth opportunity and this IPO positions us ideally for the next step of our development,” added Tom Ryder.