Sports nutrition brand, Applied Nutrition, has announced its plans to go public on the London Stock Exchange in October, with a potential valuation of £500 million. The company, based in Liverpool and supported by JD Sports, intends to list on the main market as part of its initial public offering (IPO).
Applied Nutrition, known for its protein supplements, highlighted that the IPO would not only raise brand awareness but also support its expansion plans. The company, operating for over a decade, currently sells its products worldwide and aims to further enhance its global presence.
JD Sports acquired a 32% stake in Applied Nutrition in 2021 from founder and CEO Thomas Ryder. With the upcoming IPO, the company is set to offer shares to institutional and retail investors in the UK, marking a significant milestone for the London stock markets.
The IPO comes amidst a period of subdued IPO activity in London, with many UK-listed firms either being acquired or seeking opportunities abroad. Applied Nutrition’s move follows the successful listing of computer firm Raspberry Pi earlier this year, which boosted market sentiment.
In its recent financial report, Applied Nutrition revealed a pre-tax profit of £24 million for the year ending July, showing substantial growth compared to the previous year. The company reported a 41% increase in underlying earnings to £26 million, driven by a 42% rise in sales to £86.2 million.
Ahead of the IPO, Applied Nutrition has expanded its board by appointing Aaron Heidebreicht as US Chief Executive and Andy Bell, founder of AJ Bell, as Chairman earlier this year. Founder Thomas Ryder is expected to reduce his stake from 55% to 30% through the IPO, potentially securing a significant financial gain.
The anticipated flotation of Applied Nutrition is set to bring further attention to the sports health brand and unlock new opportunities for growth and development in the competitive market.