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Highlights:
- Applied Nutrition plans to float on the London Stock Exchange with a retail and institutional offering.
- The company reported £86.2 million in revenue for the year ending July 2024, with core earnings rising to £26 million.
- The flotation aims to support the company’s global expansion amid a growing wellness industry.
Applied Nutrition, a UK-based protein shake and supplements company, has announced its plans to list on the London Stock Exchange. The flotation will include a retail offering, giving the public a chance to participate, alongside a targeted offer aimed at institutional investors in the UK and internationally, excluding the US. The company has not yet disclosed specific financial details, though media reports suggest the flotation could value the company at approximately £500 million. It was confirmed that at least 25% of the company's issued share capital would be freely traded.
For the year ending July 2024, Applied Nutrition reported revenues of £86.2 million, with adjusted core earnings rising to £26 million, up from £18.5 million in the previous year. JD Sports Fashion is currently the largest shareholder, holding a 32% stake in the company, which it purchased from founder Thomas Ryder.
Andy Bell, non-executive chair of Applied Nutrition and founder of the AJ Bell financial services platform, remarked that the flotation marks the next step in Applied Nutrition’s ambition to become the world’s leading brand in sports nutrition and wellness. Bell highlighted the company’s growth, driven by increasing consumer interest in health and wellness, alongside a consistent pipeline of innovative products delivered to a global customer base.
Hargreaves Lansdown analyst Susannah Streeter commented that the IPO is a timely boost for London’s stock market, which has experienced a slow period for new listings. Streeter noted that the offering taps into the rapidly growing market for nutritional supplements, which has become mainstream as health and wellness products are increasingly popular among the general population.
Applied Nutrition’s decision to include a retail offering has also garnered attention, as it provides ordinary individuals an opportunity to own a stake in the company. This move is seen as a positive step toward making IPOs more accessible to a broader audience, which is often excluded from such opportunities. The company aims to raise funds to fuel its next phase of global expansion as it continues to capitalize on the growing wellness industry.
