Robert Etchingham News Today

Forecourt retailers financing costs jump to €141.6 million

Forecourt operator was taken private last year in €718m deal

Applegreen occupies Clonskeagh Road outlet on 21-year lease at annual rent of €247,500

Morrisons has reported an 8.6% rise in annual sales and “strong momemtum” depsite a profits slump due to COVID costs, while John Lewis Partnership posts a £517m loss amid restructuring costs and writedowns.

Morrisons this morning reported end of year sales up 8.6% on a year ago, as CEO David Pott’s hailed the retailers “strong momentum” as it approaches the easing of lockdown. The results, compared to 0.8% sales fall a year ago, included total revenues up 0.4% to £17.6bn, despite profits being down by more than 60%, in part because of £290m of Covid related costs. Total revenue excluding fuel was up 8.9% as fuel sales slumped 32.1% to £2.49bn during the pandemic. Morrisons said online sal...

IN BRIEF: Applegreen Shareholders Approve EUR718 Million Acquisition Wed, 17th Feb 2021 17:27 Applegreen PLC - operator of petrol stations and motorway stops in Ireland - EUR718.1 million takeover by the Causeway Consortium Ltd gets shareholder approval. Causeway Consortium is owned by Blackstone Infrastructure Partners managed by Blackstone Group Inc, and B&J Holdings Ltd. B&J, in turn, is wholly owned by Applegreen founders Robert Etchingham and Joseph Barrett, and already owns 41% of Applegr...

Applegreen goes private as founders and Blackstone tie up £653m deal (Photo by Phil Walter/Getty Images) Irish petrol station and roadside convenience operator Applegreen has agreed to a bid from a consortium led by investment company Blackstone. The deal values the firm at 718.1m euro, a premium of around 48 per cent on the firm’s share price on the day of the bid. The buyout will see the firm go private. The firm operates 559 sites across Ireland, the UK and in the US, w...

Share Should it go through, it will be the sixth big deal he has overseen with a foreign buyer. But it could be gatecrashed by a rival bidder. American private equity firm Global Infrastructure Partners said it was mulling making a higher offer after its first approach was rejected. Rudd jis a serial chairman who presided over a string of controversial mergers and sales since 2006. This included offloading glass maker Pilkington to Nippon Sheet Glass for £2billion in 2006. He sold a division o...

Applegreen duo say private ownership best for massive spend plans Founding directors have joined forces with unit of US investor Blackstone in €718m bid Tue, Dec 22, 2020, 09:24 Updated: Tue, Dec 22, 2020, 19:10   Applegreen’s two founding directors and main shareholders, who have joined forces with a part of US investment giant Blackstone to bid €718 million for the fuel forecourt retailer, say the business is now better off in private hands as it prepares for large investments...

Applegreen Agrees EUR718 Million Takeover By Founders, Blackstone Tue, 22nd Dec 2020 09:42 (Alliance News) - Applegreen PLC on Tuesday announced that it has agreed to a EUR718.1 million takeover offer made by the Causeway Consortium. Applegreen operates a number of petrol stations in Ireland, the UK and the US. The Causeway Consortium is a company owned by Blackstone Infrastructure Partners and B&J Holdings Ltd, which is wholly-owned by Applegreen founders Robert Etchingham and Joseph Barrett. ...