ProCook planning a stock market listing
By David Wood | 7th September 2021
Gloucestershire-based kitchenware firm ProCook is planning a public flotation on the London Stock Market.
The multi-channel retailer is also expanding its range of stores across the UK, having opened a number of new outlets this year with more on the way.
ProCook, one of Britain's biggest specialist kitchenware brands, is working with investment bankers on a review of strategic options that includes a public flotation, according to Sky News.
The news channel says that if an initial public offering does materialise, it would be the latest in a string of digitally-led businesses which have used a pandemic-fuelled sales surge to go public.
ProCook, which was founded more than 25 years ago by Daniel O'Neill as a family business, sells cookware sets by direct mail in the UK.
ProCook has more than 50 stores in the UK including at Gloucester Quays and Cirencester.
Punchline has learned that as well as opening six new stores since April, including one at the White Rose Shopping Centre in Leeds, ProCook plans to open another three new stores by Christmas, including one at Cribbs Causeway in October.
ProCook employs more than 200 staff at its headquarters in Quedgeley and in May, the company featured in Punchline's annual list of Gloucestershire's 100 biggest employers, at 57.
Despite the pandemic, ProCook celebrated its 25th anniversary with record sales. Sales for 2020-21 were up 35 per cent to £64.5 million, with a record annual profit of more than £10million, as its total staff approached 600.
As well as its new UK stores, ProCook is opening more on the continent with the opening of a hub in the Netherlands to service European markets.
Earlier this year, Mr O'Neill said: "By stepping up to meet the opportunities presented to us in the past year, we've achieved some incredible numbers and accelerated our plans to expand internationally."
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