ProCook cuts a hefty deal on the stock market
By Richard Wright | 10th November 2021
ProCook - the Gloucester-based kitchenware firm - has been valued at £158 million ahead of its share offer on Friday.
The firm today announced the successful pricing of the share offer at 145p per share.
Based on this offer price, the market capitalisation of the company will be approximately £158 million at the start of dealings on the main market for listed securities of the London Stock Exchange.
Daniel O'Neill, CEO and founder, said: "We have been thrilled with the level of interest and support from a range of institutional and retail investors. I am really proud of how far we have come as a business, and today's announcement is another key step on our growth journey.
"ProCook has a unique, direct-to-consumer proposition, a clear strategy for growth and a dedicated team of wonderful staff with a real passion for cooking - all the key ingredients needed to enable us to continue to grow and develop our ambitions. I'm excited for our future and look forward to this next chapter."
The company employs 700 staff, with 200 of them based at the headquarters in Waterwells Business Park in Gloucester. Daniel O'Neill, a former software designer, set the company up with his mother and brother, as a mail order business operating from home in Gloucestershire.
ProCook recently opened its 56th store at Cribbs Causeway in Bristol. There are stores in Gloucester Quays and Cirencester.
The firm had a turnover in excess of £53 million last year and is predicting growth of 30-40 per cent this year.
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