Forecourt Retailer Applegreen Confirms Potential Takeover Talks

By Steve Wynne-Jones
Share this article
Forecourt Retailer Applegreen Confirms Potential Takeover Talks

Forecourt operator Applegreen has said that it is in 'advanced discussions' with a consortium led by B&J Holdings Limited and Blackstone Infrastructure Partners, over a potential takeover of the business.

The consortium's cash offer is valued at €5.75 per share. As of 9.30am this morning, Applegreen's shares were valued at €5.00 per share, having risen more than 40% in early morning trading.

B&J Holdings, which currently holds 41.3% of the business, represents the holdings of the company's founders, Robert Etchingham and Joe Barrett, meaning that should the bid be successful, Applegreen would become a private company.

Etchingham and Barrett would retain their roles as CEO and COO of the business, respectively.

Firm Offer

The company said that if the consortium makes a firm offer, its independent board will recommend 'unanimously' that shareholders accept it.


"The independent board believes the possible cash offer, if effected, would represent a compelling opportunity for shareholders in Applegreen to realise their investment at an attractive premium to the prevailing share price," the company said in a statement.

© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.