A protein powder company set up by a scaffolder who grew up on a Liverpool council estate is joining the London stock market with a value of £500million.
In a major boost for the City, sports health brand Applied Nutrition confirmed plans to list its shares in the UK this month.
The float is expected to value the firm, which is based in Knowsley, Liverpool, at around £500million.
Entrepreneur: Applied Nutrition’s founder and chief executive is Thomas Ryder, a father-of-four who was raised by his grandparents in a council house in Kirkby
That would make the 55 per cent stake held by founder and chief executive Thomas Ryder (pictured), a father-of-four who was raised by his grandparents in a council house in Kirkby on the outskirts of Liverpool, worth £275million.
He set up Applied Nutrition in 2014 and has developed it into a company with more than 200 staff selling goods from powders and herbal tablets to isotonic gels in more than 80 countries.
The firm is backed by JD Sports – which bought a 32 per cent stake from Ryder, 40, in 2021 – and is the official nutrition partner of football clubs Fulham and Glasgow Rangers.
Revenues topped £86m in the 12 months to the end of July – up from £35million in 2022 and £61million in 2023 – while profits hit £26million.
The initial public offering (IPO) would come at an important time for London stock markets, which have grappled with a dearth of IPO activity, as well as a number of UK-listed firms being bought out or defecting to markets abroad.
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