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Retail

Applegreen Formally Completes Delisting From Stock Market

Forecourt retailer Applegreen has formally completed its delisting from the Euronext Growth and AIM stock exchanges, and completed its transition to a private company.

The company made the announcement in a statement on its website yesterday, saying the listing of shares on both exchanges was cancelled as of 7am on 11 March.

This has paved the way for the creation of a newly-formed company wholly owned by B&J Holdings Limited, a business operated by Applegreen founders Joe Barrett and Bob Etchingham, and Blackstone Infrastructure Partners.

Going Private

In December, Applegreen announced it was to be taken private in a deal that valued the business at around €720 million.

"Looking forward, Applegreen will transition its business through capital intensive highway projects and electric vehicle charging infrastructure," Etchingham and Barrett said at the time.

Applegreen was first listed on the stock market in June 2015, hitting a high of €6.62 in September 2018, before crashing to a low of €2.05 as the pandemic hit last Spring.

A month ago, the business announced plans to redevelop and operate 27 service areas along the New York State Thruway in the United States, in a venture worth €250 million.

© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.

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