A scaffolder who grew up on a Liverpool council estate is about to join the ranks of the super-rich when his protein powder company lists on the stock market with a value of £500million.
In a major boost for the City, Thomas Ryder yesterday announced plans for a London float of Applied Nutrition, the sports health brand he founded in 2014.
The move is expected to value the firm, which is based on an industrial park in Knowsley in Liverpool, at around £500million.
That would make the 55 per cent stake still held by Ryder, a father-of-four, worth £275million.
Reports suggest the listing has been brought forward so it takes place before the Budget on October 30 when Chancellor Rachel Reeves is expected to significantly increase capital gains tax (CGT).
Listing: Thomas Ryder (pictured) yesterday announced plans for a London float of Applied Nutrition, the sports health brand he founded in 2014
By selling shares before the increase, Ryder (pictured) will pay CGT at the current lower rate.
The prospective deal represents a milestone for Ryder, 40, who was raised by his grandparents on a council estate in Kirkby after the death of his father when he was 12.
After leaving school at 16, he worked as a scaffolder before moving into workout supplements like protein powders.
Since setting up Applied Nutrition a decade ago, he has grown it into a company with more than 200 staff selling a range of goods from powders to herbal tablets and isotonic gels in over 80 countries.
Revenues topped £86million in the 12 months to the end of July – up from £35million in 2022 and £61million in 2023 – while profits hit £26million.
The company, whose products are used by professional athletes and fitness enthusiasts, is the official nutrition partner of a range of football clubs including Fulham and Rangers.
It also works with rugby league club Salford Red Devils and Ultimate Fighting Championship (UFC) stars Paddy ‘The Baddy’ Pimblett and Molly ‘Meatball’ McCann.
FTSE 100 sportswear giant JD Sports bought a 32 per cent stake in 2021.
Andy Bell, the founder of online trading platform AJ Bell, was appointed chairman in February as the business sought to beef up its board ahead of the so-called ‘initial public offering’ (IPO).
‘This IPO positions us ideally for the next step of our development,’ Ryder said.
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