AJ Bell founder tapped for Applied Nutrition chairman role

20th Feb 2024 15:11

(Sharecast News) - AJ Bell founder Andy Bell has been appointed chairman of Applied Nutrition, a rapidly growing sports nutrition, health, and wellness brand based in Liverpool, it was reported on Tuesday.

The move, reported by Sky News, came as Applied Nutrition geared up for a potential stock market listing in London.

Bell, known for taking the retail investment platform AJ Bell public in 2018, stepped down as its CEO in 2022.

Sky said his appointment was ratified by the board at a meeting on Tuesday.

Applied Nutrition had been mulling an initial public offering (IPO), with investment bank Deutsche Numis reportedly brought on to advise on the potential listing.

Founded by Thomas Ryder, Applied Nutrition had garnered support from JD Sports Fashion, which holds a 30% stake in the company, with chief operating officer Steven Granite owning the remaining shares.

The firm specialises in formulating and manufacturing premium supplements catering to professional athletes and fitness enthusiasts, and has partnerships with various sports clubs and athletes, including Premier League side Fulham and Glasgow Rangers.

Its flagship product ABE (All Black Everything) had grown in popularity in recent years and was now stocked by major US retailer Walmart.

Sky cited financial records for the year ended July 2023 as showing a 74% improvement in turnover to £61.2m, and EBITDA jumping 80% to £18.1m.

Reporting by Josh White for Sharecast.com.