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Protein shake maker Applied Nutrition preparing for London IPO
(Sharecast News) - JD Sports-based Applied Nutrition has confirmed plans for a potential initial public offering in London that could value the sports supplements and protein shake maker at £500m. According to a regulatory filing on Tuesday, the Liverpool-based company said it was reading for a stock market debut before the end of 2024 following a "stand-out" performance in its latest financial year.
JD Sports holds a 32% stake in Applied Nutrition after investing back in 2021, while the sports retailer's former chief executive Peter Cowgill is said to have invested in a personal capacity earlier this year.
Applied Nutrition's founder Thomas Ryder, who still holds a majority stake after setting the business up in 2014, said: "To support our ambitious plans in the coming years, we continue to lay the groundwork ahead of our potential IPO on the London Stock Exchange later this year.
"We believe London is an exceptional home for growth companies and if everything falls into place, we hope to deliver another successful IPO to the London market."
Applied Nutrition, which appointed AJ Bell founder Andy Bell as its chair back in February, saw sales surge 42% to £86.2m in the 12 months to 31 July. The company employs more than 200 people and manufactures 85% of its products at its own facility in Kirkby.
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