Oliver Cookson

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 £306m.[2]

Oliver Cookson
Oliver Cookson in 2014
NationalityBritish
EducationThe Kingsway School, Stockport[1]
OccupationEntrepreneur
Known forFounder of Myprotein
Net worth £306million (as of 2019) "The Sunday Times Rich List"

Early life

Cookson left The Kingsway School in Stockport[3] at the age of 16 with one GCSE to take up a junior IT position under an Apprenticeship scheme for a company called Pantek. He progressed to become a contract website developer for a range of different blue-chip organisations around the UK.[4]

Career

Myprotein

In 2004, Cookson established the business Myprotein using an overdraft of £500.[5] He founded the company from his bedroom, trading from a lock-up garage in Greater Manchester initially.[6]

The company manufactures and sells sports nutrition products and protein foods through its website and became the market leader in the segment.[7]

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.[8]Celebrities who use Myprotein products include Rugby players Kyle Eastmond and Dan Hipkiss, sprinter Craig Pickering and multiple footballers.[9]

On 1 June 2011, Cookson sold Myprotein to The Hut Group for £58 million.[10] Cookson remained on the board of directors of The Hut Group until October 2012 when he resigned from the board but retained his shares.[11] He was reappointed as Non Executive Director in 2020.

Later career

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.

Controversy

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.[13]

Litigation with The Hut Group

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.[14] 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 The Hut Group £4m over breached warranties[15], but also awarded Cookson the sum of £10.8m in relation to a counterclaim.[16]

Mr Justice Blair ordered that The Hut Group should pay its own costs and meet one third of those incurred by Mr Cookson and the Trust.[17]

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 11.6pc to 8.3pc between February 2016 and May 2018.[18]

Charitable Work

Oliver Cookson is a major donor to Caudwell Children's Charity (charity reg number 1079770, SC043874).[19]


References
  1. https://www.thetimes.co.uk/article/why-failure-at-school-is-no-bar-to-financial-success-sunday-times-rich-list-67cxq0bsk
  2. "'Rich List 2019: why failing exams is no bar to financial success". Retrieved 12 May 2019.
  3. "'Rich List 2019: why failing exams is no bar to financial success". Retrieved 12 May 2019.
  4. "'Rich List 2019: why failing exams is no bar to financial success". Retrieved 12 May 2019.
  5. "'Myprotein founder launches latest venture". Manchester Evening News. Retrieved 28 August 2013.
  6. "'Private equity investors circle Myprotein'". Manchester Evening News. Retrieved 18 January 2013.
  7. "'The Hut prepares for IPO in early 2014'". Financial Times. Retrieved 16 September 2013.
  8. "'Private equity investors circle Myprotein'". Manchester Evening News. Retrieved 18 January 2013.
  9. "'Private equity investors circle Myprotein'". Manchester Evening News. Retrieved 18 January 2013.
  10. "'The Hut prepares for IPO in early 2014'". Financial Times. Retrieved 16 September 2013.
  11. "'The Hut prepares for IPO in early 2014'". Financial Times. Retrieved 16 September 2013.
  12. "'Myprotein founder launches latest venture'". Manchester Evening News. Retrieved 28 August 2013.
  13. BBC News - Computer expert fined over TV piracy, 17 July 2001
  14. "'The Hut eyes M&A as it looks to expand in health and beauty'". Financial Times. Retrieved 16 September 2013.
  15. "'Cookson and The Hut both claim victory after High Court row'". The Business Desk. Retrieved 21 November 2014.
  16. "'Cookson and The Hut both claim victory after High Court row'". The Business Desk. Retrieved 21 November 2014.
  17. "'Cookson and The Hut both claim victory after High Court row'". The Business Desk. Retrieved 21 November 2014.
  18. "'Myprotein founder sues Hut Group over shares". The Telegraph. Retrieved 23 February 2019.
  19. "'Caudwell Children". Caudwell Children. Retrieved 16 April 2020.
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