LSE: APN GBX 148.00 1.00 0.68%

Investment case

Fast growing, profitable, and cash generative global supplier in a massive addressable sports nutrition, health and wellness supplements market.

Global market opportunity of £189bn with structural market growth driven by an increased focus on sports nutrition, health, and wellness supplements

A trusted brand, with broad consumer appeal across a varied product range

Benefiting from the advantages of a predominantly B2B business model with a low-risk, highly cost-effective go-to-market strategy which leverages local knowledge in international markets

Scalable and highly efficient in-house manufacturing enables nimbleness, rapid NPD and control of production

Delivering impressive financial performance with strong revenue growth, high operating margin, and strong cash generation

Strategy supported by multiple pillars of growth, driving increased shelf-space and distribution points with existing customers and expanding across geographies and channels by developing new customer relationships

A founder-led management team with deep industry knowledge and long-term ambitions, supported by a very experienced non-executive team