UK-based sports-nutrition business Applied Nutrition has received a personal investment from the former executive chairman of retailer JD Sports.
Peter Cowgill has snapped up an unspecified stake in the Liverpool-based company, having first backed Applied Nutrition when he was in charge of JD Sports and the retail chain took a stake of just under a third in 2021.
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He subsequently took up a position on the board of Applied Nutrition as a non-executive, stepping back when he left JD Sports two years ago.
Applied Nutrition CEO Tom Ryder said: “We are very proud to have Peter Cowgill investing in our business and reaffirming the belief he had in us back in 2021 when heading up JD Sports.
“JD has been a great partner since the initial investment and post Peter’s departure the JD team has continued to be very supportive and a pleasure to work with. “Peter is a very successful retail leader on a global scale and having him alongside us as an investor shows how much he believes in our brand and the future of our business.”
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Cowgill’s investment comes less than two months after Applied Nutrition unveiled AJ Bell founder, Andy Bell CBE, as its chairman, who has also made a substantial personal investment in the business.
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By GlobalDataCowgill said: “When I first met Tom and the team, I was immediately impressed with their operation and the strength, commitment and ambition of the management team. Applied Nutrition clearly has an in-depth knowledge of its market and the opportunities which prevail. I had no hesitation in proposing an investment on behalf of JD, which I am delighted has been a rewarding success.
“I have continued to follow the progress of the business and observed its enduring rapid expansion. I welcome the opportunity to be involved again and to support this British success story. I am confident in its future development.”
Founded in 2014, Applied Nutrition, which sells its products in 65 countries, is the official nutrition partner of a range of English Football League clubs, including Bolton Wanderers, as well as the Scottish Premiership side Glasgow Rangers.
The group, best known for brands BodyFuel and ABE – All Black Everything – has played down recent rumours it is plotting a £1bn ($1.26bn) flotation.
In a recent interview with Just Food, Ryder said: “We are just looking at options. I would be very pressed to say we are leaning in any particular way.”
