A scaffolder from Liverpool, Thomas Ryder, has secured a massive payout of £62million after making a significant business move this week. The 41 year old established his sports supplements brand, Applied Nutrition, a decade ago and on Thursday, he sold 19% of his shares in the business, which is valued at £350million, on the London Stock Exchange.
Ryder, who now holds a 35% stake in his business, embarked on his entrepreneurial journey over 30 years ago. As a teenager, Ryder developed a passion for the gym and working out, leading him to open his first sports supplement store, “Body Fuel”, at just 18 years old.
Raised on a council estate in Liverpool by his grandparents, Ryder funded his business venture by selling protein powder and delivering takeaway pizzas alongside his scaffolding job for the local council. In an interview, Ryder revealed that he had “always been passionate” about sports supplements, and when he first started, the industry was “nowhere near what it is today”.
He continued to work as a scaffolder while running Body Fuel for six years before transitioning to selling supplements full-time. In 2014, he launched his now multimillion-pound company, Applied Nutrition, from a small factory in Knowsley, Merseyside.
Over the past decade, the company has experienced rapid growth, with retail giant JD Sports now being one of its largest shareholders, reports the Mirror.
Applied Nutrition has received investments from fellow northwestern business owners and billionaires, including Asda co-owner Mohsin Issa and Home Bargains founder Tom Morris. This week’s move marked a significant milestone for the nutrition business.
Speaking to the Telegraph, Ryder said: “You can’t take away the credibility and recognition it gives you to be a listed company on the London Stock Exchange.”
After Thursday’s initial public offering, shares in Applied Nutrition rose more than 7% to 150p. Ryder noted that listing the business was “by far the best all-round option we had.”
Looking ahead, Ryder revealed that the business is now aiming to expand into the US market, which he described as his personal “big goal”.
He explained: “The US is the big goal. We are in an industry worth £189 billion and the US is 50% of that. You can’t ignore the fact that it’s by far the biggest opportunity. Our priority is to keep growing. We have not scratched the surface of where we can be. The growth opportunity ahead of us is huge.”
In addition to the US plans, the business is also looking to broaden its target audience. Ryder expressed his desire to shift the supplement industry away from being very “bodybuilding” centric, stating: “That has never been my thing but I’ve always been into the benefits of supplements.”
Ryder, the driving force behind Applied Nutrition, has revealed that the company is broadening its horizons beyond just gym enthusiasts. They are now targeting individuals using weight-loss injections like Wegovy, with products tailored to their needs.
He explained: “There is a huge consumer base taking prescribed drugs that’s stopping them from eating. But you then are lacking protein, minerals, vitamins, etc, and we can supplement that. It’s great you are losing weight but you’ve got to replace the goodness in your body. And we’d love to work with the NHS and anyone else prescribing these drugs.”
Ryder also emphasised his commitment to keeping the business rooted in Knowsley, Merseyside, saying: “Liverpool is our home and is at the heart of our company.”
The entrepreneur, proud of his Liverpool heritage, has previously shown support for local sports stars as ambassadors for the city. Speaking to the Liverpool Echo, he said: “They’re both Liverpool through-and-through and understand the importance of the community. They also want to give back to their community like we do. It’s nice using local people from Liverpool to showcase the brand.”
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