JD Sports-backed Applied Nutrition preparing for £1bn London float - report

5th Feb 2024 11:39

(Sharecast News) - Applied Nutrition, a manufacturer of sports supplements part-owned by JD Sports Fashion, is reportedly beginning preparations for a £1bn London flotation.

According to Sky News, Liverpool-based Applied Nutrition has been interviewing investment bankers in recent weeks about a listing that could take place in the autumn.

City sources told Sky at the weekend that Deutsche Numis was among those in contention for a role on the float, which could rank among the largest in the UK this year.

One person close to the situation cautioned that no firm decision had been taken to press ahead with an initial public offering.

Founded in 2014, Applied Nutrition formulates and makes premium nutrition supplements for professional athletes and gym enthusiasts.

It is the official nutrition partner of a range of English Football League clubs, including League One's Bolton Wanderers, and the Scottish Premiership side Glasgow Rangers.

JD Sports owns just under a third of the shares, while Applied Nutrition's founder, Thomas Ryder, holds a majority stake. Sky said the remaining shares are understood to be owned by Steven Granite, the company's chief operating officer.