Coleen Rooney-backed Applied Nutrition launches IPO with £350m valuation
Applied Nutrition, a sports health business supported by Coleen Rooney, has commenced its stock market debut with a valuation of approximately £350 million. The group set the price of its initial public offering (IPO) at 140p per share, falling within the range of 136p to 160p per share disclosed last week.
Coleen Rooney, a popular TV personality and the wife of former Manchester United and England footballer Wayne Rooney, had expressed her plans to invest in the company’s flotation after taking on the role of a brand ambassador earlier this year. The Liverpool-based company, also backed by retailer JD Sports, is issuing 250 million shares as part of the IPO, with 112.5 million shares being sold by existing shareholders.
Trading of shares under certain conditions began on the London Stock Exchange on Thursday, with unconditional trading expected to commence next Tuesday. The share price rose to 146.2p each shortly after conditional dealing started. Founder and CEO of Applied Nutrition, Thomas Ryder, stated, “As a UK business based in Knowsley, Liverpool, we are extremely proud to be listed on the London Stock Exchange. We are only just beginning to tap into our growth potential, and this IPO positions us well for our next phase of development.”
Several notable entrepreneurs from the North West, including Mohsin Issa, co-owner of Asda, have committed to investing a combined £25 million as cornerstone investors in the IPO. Mrs. Rooney remarked, “I’ve been truly impressed by Applied Nutrition’s journey from its roots in Liverpool to becoming a leading sports nutrition, health, and wellness brand. That’s why I’ve chosen to invest in the company – I am thrilled to be a part of its future.”
Applied Nutrition, established a decade ago, primarily sells its products to various businesses such as retailers, gyms, and sports clubs, catering to a wide range of consumers from professional athletes to those looking to manage their weight. The company’s products are distributed in over 80 countries globally. In 2021, JD Sports acquired a 32% stake in the company from Mr. Ryder.
Applied Nutrition recently reported a pre-tax profit of £24 million for the year ending July, compared to £18 million the previous year. Earnings before tax increased by 41% to £26 million for the year ending July 31, with sales rising by 42% to £86.2 million.
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In summary, Applied Nutrition, a company endorsed by Coleen Rooney and JD Sports, has made its stock market debut with a valuation of £350 million. The successful IPO, priced near the lower end at 140p per share, marks a significant milestone for the Liverpool-based sports health business. With support from prominent investors and a growing global presence, Applied Nutrition is poised for further growth and expansion in the competitive market of sports nutrition and wellness.