Applied Nutrition, the Liverpool-based sports nutrition specialist and parent of the best-selling Body Fuel energy drinks, has confirmed its long-anticipated intention to float on the stock market as it looks to seize opportunities in the £189bn global health and nutrition market.
Founded in 2014 by CEO Thomas Ryder, Applied Nutrition has to date developed and launched four ranges under the Applied Nutrition umbrella – Applied Nutrition, ABE, BodyFuel and Endurance.
Applied Nutrition’s shares would be admitted to the equity shares category of the Official List of the FCA and to trading on the Main Market of the London Stock Exchange, and the planned offer would comprise existing shares being sold by existing shareholders of the company.
It would be a targeted offering to certain institutional investors in the UK and elsewhere outside the US in reliance on Regulation S, alongside an offering to retail investors through RetailBook in the UK only.
Immediately following admission, the company would have a free float of at least 25 per cent of issued share capital and expects that it would be eligible for inclusion in the FTSE UK indices.
Ryder 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.”
In 2022, in response to significant growth in revenue and demand for products, the group added a dedicated 47,000 sq ft warehouse located immediately next door to its existing Knowsley manufacturing site, which opened in its current form in 2020.
Together, these contain all the group’s UK operations, including in-house production and manufacturing facilities, warehouse space and office space.
In 2021, JD Sports Fashion plc acquired 32 per cent of the share capital of Applied Nutrition from Thomas Ryder, as a strategic initiative alongside its JD Gyms business.
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.”
Addleshaw Goddard is advising Applied Nutrition while Pinsent Masons is advising investment bank, Deutsche Numis, which has been appointed as global co-ordinator, sponsor and bookrunner.
The group’s total revenue in FY24 was £86.2m, increasing from £21.8m in FY21.
