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Applegreen Majority Shareholder To Sell 7.5% Of Stake

B&J Holdings, a Maltese-registered company owned by Applegreen founders Bob Etchingham and Joe Barrett, is to sell up to 6 million shares at €4.50 per share. The placing shares represent roughly 7.5% of Applegreen’s current issued share capital.

B&J Holdings will still hold over 48 million shares after the share sell, representing about 60% of the current share capital. Bob Etchingham and Joe Barrett own 75% and 25% of the share capital of B&J respectively.

Applegreen announced first-half results previously this month that were in line with expectations. Revenue for the six months ending June 30, increased 7.4% to 7.4% to €556 million, as the group’s pretax profit more than doubled to €7.5 million. In the first half of 2015, adjusted earnings (ebitda) increased by 15% from €11.3 million to €13 million in 2016.

Revenue in Ireland rose by 12.7% and gross profit grew by 20.3%.

© 2016 - Checkout Magazine by Miyuki Nakano

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