Applied Nutrition, a rapidly expanding sports nutrition company based in northern England, has confirmed its plans for a London floatation.
In an official statement released on September 30, Applied Nutrition announced that it is publishing a registration document and aims to trade on the London Stock Exchange following its initial public offering (IPO).
The broadcaster Sky News previously anticipated this announcement, suggesting that the flotation could be valued at approximately £500 million ($670.3 million). Furthermore, the company has partnered with RetailBook to facilitate participation from ordinary UK investors in the float.
Applied Nutrition reaffirmed this development in the statement issued this morning, indicating that the retail offer will be available alongside a targeted offering tailored for institutional investors both within the UK and internationally, excluding the United States.
Sky News initially reported on the potential London float in February, revealing that the company had been in discussions with investment bankers regarding a listing scheduled for the autumn.
In the statement, Ryder elaborated, “Since launching our first Applied Nutrition product just over ten years ago, we have consistently delivered strong profitable growth and established ourselves as a trusted, premium sports nutrition and health wellness brand within an industry that continues to expand rapidly.”
Moreover, Ryder expressed pride in the fact that a significant portion of the company’s manufacturing and new product development occurs in Knowsley, Liverpool. He noted, “Keeping our operations in-house allows for quicker innovation and the efficient launch of new products.”
The ability for the Applied Nutrition team to design, test, and refine products internally provides them a competitive edge. Ryder stated, “This streamlined process allows us to transition from concept to shelf in a matter of weeks, supporting our successful and low-risk go-to-market strategy that enables both strong growth and ease of expansion into new markets.”
Looking ahead, Ryder emphasized the vast opportunities for growth that lie ahead, adding, “This IPO positions us ideally for the next step in our development.”
Applied Nutrition, founded by Ryder in 2014, boasts a diverse product range of over 100 items, including nutritional supplements, energy drinks, and protein cookies. The company operates in more than 60 countries and has established partnerships with various sports entities, including English and Scottish football clubs, as well as professional boxers and MMA practitioners.
Notably, its brands, such as ABE – All Black Everything, which features a pre-workout line, and BodyFuel, a hydration drink, continue to gain popularity.
Employing over 200 individuals, Applied Nutrition largely follows a global business-to-business model. However, its ABE brand can be found on the shelves of major retailers like Walmart in the United States.
In 2021, UK sports retailer JD Sports acquired a 32% stake in Applied Nutrition, while Ryder retains majority ownership.
For the fiscal year ending on July 31, 2024, Applied Nutrition reported revenues of £86.1 million, a significant increase from £60.7 million in the previous year. Adjusted EBITDA rose from £18.5 million to £25.9 million during the same period.
