Applied Nutrition founder and CEO Thomas Ryder and COO Steven Granite have landed a £19.25m joint windfall after selling some of their shares in the business, which floated on the LSE in October 2024 in a £157.5m-raising listing that valued the Liverpool sports nutrition firm at £350m.
Ryder and Granite sold 7m shares in the company through a £19.25m secondary placing, representing approximately 2.8 per cent of Applied Nutrition’s issued share capital, at a price of 275 pence per placing share – the shares were valued at a 2024 offer price of 140p, while the company recently revealed a 40% jump in profit for the current year, prompting an upgrade in its guidance for the next financial year too. Revenue for the 2026 financial year is expected to increase 50% year-on-year to £160m, compared with £107m in the 2025 financial year and ahead of the £148.4m forecast.
The placing represents the first sale of shares for the selling shareholders since the 2024 IPO. October 2024.
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Following completion, Thomas Ryder remains Applied Nutrition’s largest shareholder with a 32.46 per cent stake – Applied Nutrition is not a party to the placing and will not receive any proceeds.
Keen gym goer Ryder started his professional career in the sports nutrition, health and wellness field with a supplements retail store in Liverpool, which led him into the wholesaling market and ultimately to acquiring the Applied Nutrition brand.
He started to manufacture his own products for Applied Nutrition in 2016 and is today at the helm of one of the fastest growing sports nutrition, health and wellness brands in the UK and Europe, with products currently being sold in more than 80 countries worldwide.
Granite was appointed COO at Applied Nutrition in April 2021 having previously led private equity-backed Abbey Logistics Group in roles as finance director, managing director, CEO and executive chairman, until October 2023 when he led the sale of the business to Sitra, a European competitor.
The selling shareholders have undertaken to not dispose of any remaining shares they hold in the company for a period of 180 days, subject to certain exceptions.
Image: Thomas Ryder/LinkedIn
