JD Sports-backed supplements maker Applied Nutrition plans London listing

The Liverpool-based company is planning to float on the London Stock Exchange, giving a potential boost to the UK's languishing markets

Liverpool-based sports health brand Applied Nutrition has announced plans to float on the London Stock Exchange, potentially giving a much-needed boost to the UK's markets.

The company, which is backed by sportswear giant JD Sports, is considering an initial public offering (IPO) that would launch its shares on the London stock market. Reports suggest that a potential listing could value the firm at around £500m. Applied Nutrition, which produces protein and other supplements, sells its products worldwide but aims to expand further.

The ten-year-old business primarily operates by selling its products to other businesses, including retailers, grocers, gyms and sports clubs, targeting consumers from professional athletes to people wanting to lose weight. In 2021, JD Sports acquired 32% of the group’s shares from founder and chief executive Thomas Ryder.

"We are only scratching the surface of our growth opportunity and this IPO positions us ideally for the next step of our development," said Mr Ryder. "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."

The announcement came as it reported a pre-tax profit of £24m for the year to the end of July, compared with £18m the prior year. An IPO would involve selling shares to institutional and retail investors in the UK.

This comes at a crucial time for London's stock markets, which have been wrestling with a lack of IPO activity, as well as several UK-listed companies being acquired or moving to overseas markets. A much-awaited flotation from computer company Raspberry Pi earlier this year boosted morale and valued the firm at approximately £540m.