Myprotein

Myprotein is a British bodybuilding supplement brand which has developed into a family of brands, including Myvitamins, Myvegan, MyPRO and MP Activewear. It was founded in 2004 by Oliver Cookson and bought by The Hut Group in 2011.[1][2]

Myprotein
Myprotein logo
Product typeBodybuilding supplements, athleisure
OwnerTHG plc
CountryUnited Kingdom
Introduced2004
Related brands
  • Myvitamins
  • Myvegan
  • MyPRO
  • MP Activewear
MarketsWorldwide
Websitemyprotein.com

History

Myprotein was founded in 2004 by Oliver Cookson and acquired by British e-commerce company, The Hut Group, in June 2011.[1][2]

In December 2015, Myprotein announced an agreement with Kentucky Cabinet for Economic Development to build their first production facility outside the UK in Bullitt County, Kentucky. Myprotein (registered as Cend Limited) invested $17 million to rent a production and distribution facility that planned to create 350 new jobs in the region.[3]

Sponsorships

Myprotein has partnered with various competitive sports teams from across the UK and Canada.

  • St Helens RFC[4]
  • Warrington Wolves[5]
  • London Broncos[6]
  • Sale Sharks[7]
  • Burnley FC[8]
  • Nottingham Forest[9]
  • University of Nottingham Sport[10]
  • Toronto Wolfpack

Controversies

In 2014, The Hut Group sued Oliver Cookson for £15 million, alleging that he and his off-shore trust had overstated the profits of Myprotein prior to its acquisition by The Hut Group in 2011. Cookson counter sued for £12.7 million claiming a breach of warranty and fraudulent misrepresentation. The matter went to the High Court in London in October 2014 and, after a month-long trial, judgement was given by William Blair in November 2014 awarding Cookson an overall net result win of £6.5m in damages.[11][12]

At the costs hearing in December 2014, the judge awarded a payment of just under £7.5 million to be made by The Hut Group to Cookson and the Trust in respect of all of the claims and counterclaims in the action and one third of the costs incurred by Cookson and the Trust.[13]

Cookson and the Trust appealed the court's decision to award The Hut Groups damages.[14] The court of appeal dismissed the appeal on 22 March 2016.[15]

References
  1. Pitel, Laura (2 June 2011). "Business big shot: Oliver Cookson of Myprotein.com". The Times. ISSN 0140-0460. Retrieved 14 August 2018.
  2. "Hut Group buys Myprotein in £60m deal". Manchester Evening News. 1 June 2011. Retrieved 14 August 2018.
  3. "New Manufacturing Facility, Athletic Supplement Producer Cend LLC to Create 350 Jobs in Bullitt County". whereopportunityknox.com. Archived from the original on 14 August 2018. Retrieved 14 August 2018.
  4. Cultivate (26 January 2015). "My Protein | St.Helens R.F.C." St.Helens R.F.C. Retrieved 14 August 2018.
  5. "Wolves wire up with Myprotein.com". Warrington Guardian. Retrieved 14 August 2018.
  6. "London Broncos Rugby League | #WeAreLondon | » London Broncos join forces with MYPROTEIN". londonbroncosrl.com. Retrieved 14 August 2018.
  7. "Myprotein to fuel the Sharks". salesharks.com. Retrieved 14 August 2018.
  8. "Burnley Football Club - My Protein". www.burnleyfootballclub.com. Archived from the original on 5 September 2018. Retrieved 14 August 2018.
  9. "Myprotein become Nottingham Forest's official performance supplement supplier". Retrieved 14 August 2018.
  10. "University of Nottingham Sport announce new sponsorship deal with leading nutrition brand Myprotein - The University of Nottingham". www.nottingham.ac.uk. Retrieved 14 August 2018.
  11. "The judgment by The Hon Mr Justice Blair - The Hut Group Ltd v Cookson", England and Wales High Court (Queen's Bench Division) Decisions, 20 November 2014.
  12. "Business Desk article - 21 November 2014
  13. "Costs awarded in The Hut Group vs Oliver Cookson & Barclays Private Bank & Trust Ltd - Press Release by DWF
  14. "Permission to appeal granted in High Court case between The Hut Group Ltd and Oliver Cookson and others". DWF.LAW. Retrieved 17 April 2016.
  15. "Deals/Restructuring / Deals List / The Hut successfully defends court appeal by Cookson - TheBusinessDesk.com". Retrieved 17 April 2016.
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