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Oliver Cookson

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Oliver Cookson
Oliver Cookson in 2014
NationalityBritish
EducationThe Kingsway School, Stockport[1]
OccupationEntrepreneur
Known forFounder of Myprotein

Oliver Cookson is an English entrepreneur who established the sports nutrition business Myprotein, which he sold in 2011 for £58 million to The Hut Group. He was named in the Sunday Times Rich List 2019 having recorded a net worth of £306 m.[2]

Early life

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Oliver Cookson is a British entrepreneur, who grew up in Withington, Manchester, in the Northwest of England, and comes from a working-class background. After leaving school with one GCSE,[3] he was taken on as an apprentice for an IT company before setting up on his own as a self-taught contract website developer for major global organisations.[4][5]

Career

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Myprotein

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Cookson, a keen weight trainer, applied his knowledge of web development to launch sports nutrition brand Myprotein in 2004 with just a £500 overdraft.[6] He began trading from a lock-up garage and built Myprotein into a multi-million-pound business employing more than fifty staff and selling products across the UK and Europe.[7]

The company manufactures and sells sports nutrition products and protein foods through its website and became the market leader in the segment.[8]

Products include protein powders, amino acids, vitamins, ready-to-drink products, omega oils and other items to help people build muscle, lose weight and supplement their diets.[9] Celebrities who use Myprotein products include Rugby players Kyle Eastmond and Dan Hipkiss, sprinter Craig Pickering and multiple footballers.[10]

The Hut Group

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In 2011, Cookson sold Myprotein to The Hut Group in a deal worth £58 million in cash plus shares in the group. Those shares earned him another estimated £283 million when The Hut Group debuted on the stock market with the biggest initial public offering (IPO) of the year in 2020.[11]

Later career

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On 1 November 2011, Cookson established the business Monocore[12] launching multiple consumer nutrition brands, including GoNutrition, before fully exiting the company in 2019.

He then founded investment vehicle OSC Group according to Companies House.

In March 2017, Cookson took a major stake in online meat and health foods retailer LiveLean Nutrition. Oliver Cookson was appointed chairman with immediate effect and joined the board of directors at LiveLean whilst maintaining his other director positions in businesses such as GoNutrition, P-Fit and Monocore.[13]

Va Va Verve

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In 2023, Cookson established Verve, a nutrition brand renowned for its all-encompassing multi-nutrient powder designed to fulfil an individual's daily nutritional requirements in a single-serving. Verve V80 provides 210 health and wellness benefits through a science-backed formula carefully formulated alongside top nutritionists.[14] More than just greens, one daily serving also delivers essential vitamins, minerals and superfoods to elevate your everyday wellness, keep your energy up, keep your gut health balanced and your immune system strong.

Oliver Cookson Foundation

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In November 2022, the Oliver Cookson Foundation was established as a registered charity (Registered Charity Number 1201102) with the mission of making a positive difference in the lives of people in the UK, by removing barriers and enabling people to access new skills, knowledge and opportunities.

Cookson First Aid (www.cooksonfirstaid.org) is the foundation’s flagship programme with a mission to save lives, by providing free first aid training to as many people as possible in the UK, funded by the Oliver Cookson Foundation. Thousands of people across Greater Manchester have been trained in emergency first aid, and the charity is rolling out nationally throughout 2024.

Cookson First Aid have partnered with the British Heart Foundation[15] to develop guidance for what makes a 'Heart Safe Community', with an innovative pilot in Wythenshawe, Manchester, the guidance will be published in 2024.

Make-A-Wish (UK)

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In November 2020, Cookson became a patron for the charity Make-A-Wish (UK), which raises funds to help the wishes of critically ill children come true. The charity had been severely impacted by the Covid-19 pandemic, which prevented them from raising funds via the usual channels such as marathon runs and made it difficult to deliver wishes due to pandemic restrictions.[16] Cookson donated £250,000 to the charity, which was used to help one hundred critically ill children and give them hope for the future.[17]

TV piracy

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In 2001, Cookson was fined £600 and ordered to complete 200 hours community service after pleading guilty to incitement under the Computer Misuse Act 1990, having discovered a system which allowed viewers to see pay-per-view channels for free.[18]

Litigation with The Hut Group

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Oliver Cookson was involved in a long running case of litigation with The Hut Group over the sale of Myprotein in 2011 and the valuations that each side had put on their business.[19] Following a trial in The High Court in London in October 2014, Mr Justice William Blair, the brother of former Prime Minister Tony Blair, awarded Cookson net £6,482,911 million in relation to the counterclaim. The Hut Group made the first litigious move with what Mr Justice William Blair called "by way of pre-emptive strike".[20]

Mr Justice Blair ordered that The Hut Group should pay its own costs and meet one third of those incurred by Cookson and the Trust.[21]

In 2019, Cookson brought High Court documents alleging new shares in The Hut Group were issued to investors without Cookson's approval after the co-sale rights were removed, reducing Cookson's shareholding from 11.6% to 8.3% between February 2016 and May 2018.[22]

References

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  1. ^ O'Reilly, Judith. "Rich List 2019: Why failing exams is no bar to financial success".
  2. ^ O'Reilly, Judith. "'Rich List 2019: why failing exams is no bar to financial success". Retrieved 12 May 2019.
  3. ^ O'Reilly, Judith. "'Rich List 2019: why failing exams is no bar to financial success". Retrieved 12 May 2019.
  4. ^ Keeling, Neal (18 November 2020). "The dreams of 100 children will come true thanks to the generosity of a local lad who did very well for himself". Manchester Evening News.
  5. ^ O'Reilly, Judith. "'Rich List 2019: why failing exams is no bar to financial success". Retrieved 12 May 2019.
  6. ^ "'Myprotein founder launches latest venture". Manchester Evening News. 28 August 2013. Retrieved 28 August 2013.
  7. ^ "'Private equity investors circle Myprotein'". Manchester Evening News. 28 February 2011. Retrieved 18 January 2013.
  8. ^ "'The Hut prepares for IPO in early 2014'". Financial Times. Retrieved 16 September 2013.
  9. ^ "'Private equity investors circle Myprotein'". Manchester Evening News. 28 February 2011. Retrieved 18 January 2013.
  10. ^ "'Private equity investors circle Myprotein'". Manchester Evening News. 28 February 2011. Retrieved 18 January 2013.
  11. ^ "'THG IPO'". 16 September 2020.
  12. ^ "'Myprotein founder launches latest venture'". Manchester Evening News. 28 August 2013. Retrieved 28 August 2013.
  13. ^ Birtwistle, Joanne (24 March 2017). "Myprotein founder takes major stake in online meat venture | TheBusinessDesk.com". North West. Retrieved 27 November 2024.
  14. ^ Keerthi, Suresh (1 November 2023). "Myprotein founder, who made over £300m after leaving school with one GCSE". London Daily News. LondonDaily.News. ArrowEyePR. Retrieved 24 January 2024.
  15. ^ "Cookson First Aid and British Heart Foundation Join Forces to Create HeartSafe Communities". Yahoo Finance. 25 July 2023. Retrieved 26 January 2024.
  16. ^ "'Make-a-Wish (UK)".
  17. ^ Keeling, Neal (18 November 2020). "The dreams of 100 children will come true thanks to the generosity of a local lad who did very well for himself". Manchester Evening News.
  18. ^ BBC News - Computer expert fined over TV piracy, 17 July 2001
  19. ^ "'The Hut eyes M&A as it looks to expand in health and beauty'". Financial Times. Retrieved 16 September 2013.
  20. ^ "The Hut Group Ltd v Nobahar-Cookson & Anor [2014] EWHC 3842 (QB) (20 November 2014)". www.bailii.org.
  21. ^ "'Cookson and The Hut both claim victory after High Court row'". The Business Desk. Retrieved 21 November 2014.
  22. ^ Torrance, Jack; Gill, Oliver (23 February 2019). "'Myprotein founder sues Hut Group over shares". The Telegraph. Retrieved 23 February 2019.
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