Patisserie Valerie owner hopes to raise £33m in London float
Wednesday 23 April 2014
Serial entrepreneur Luke Johnson, the owner of Patisserie Valerie, is returning to the stock market with the planned £170 million flotation of the cafe chain on London's AIM junior exchange.
The business, which owns 89 Patisserie Valerie outlets, 22 Druckers Viennese cake shops, 23 Philpotts sandwiches and salads shops and four upmarket Baker & Spice stores is aiming for flotation in the middle of May.
Johnson was behind the success of PizzaExpress, Strada and Giraffe, and bought 70 per cent of Patisserie Valerie in 2006 and has spent £15 million or so adding brands.
He is the largest of the shareholders selling shares worth up to £55 million in the placing with a further £33 million of new capital being raised to pay down debt.
Patisserie Holdings’ profits (before interest, tax and depreciation and amortisation) rose by 25 oer cent to £7.1 million in the six months to March on revenues up 26 per cent at £35.7 million.
The flotation is being handled by Canaccord Genuity with share dealings expected to start on May 19.
- 1 This is what the one in ten British men who pay for sex need to know
- 2 Lee Evans announces retirement from comedy on The Jonathan Ross Show
- 3 These grandmas smoking weed for the first time are wonderful
- 4 Woman opens professional cuddling shop – gets 10,000 customers in first week
- 5 Angelina Jolie confuses everyone with 'ay up me duck' East Midland's greeting to Derby actor Jack O'Connell at awards show
Jeff Fletcher dead: Britpop guitarist is decapitated by lorry in horrific traffic accident
These grandmas smoking weed for the first time are wonderful
Jimmy Ruffin dead: Motown legend, who wrote 'What Becomes of the Brokenhearted', dies aged 78
New York snowstorm: Five dead and state of emergency declared as 'wall of snow' buries Buffalo
Woman opens professional cuddling shop – gets 10,000 customers in first week
'Muslims pre-date Columbus in discovering America,' says Turkish president Erdogan
Former Tory PM Sir John Major says 'we would not have an NHS without migrants'
France 'blocks' Russian sailors from boarding a warship
G20 summit: David Cameron warns Vladimir Putin that Russia's relationship with the West is at a 'fork in the road' over Ukraine
Myleene Klass: Ed Miliband 'strikes back' by comparing UK's need for Labour's mansion tax to Hear'Say track
Coalition government has 'shifted money from poorest to better-off' through welfare cuts and tax reductions, study claims
iJobs Money & Business
£20000 - £25000 per annum + OTE £35,000: SThree: We consistently strive to be ...
£50000 - £90000 per annum + benefits: Ampersand Consulting LLP: Markit EDM (CA...
$175 - $200 per annum, Benefits: full benefits: Carlton Senior Appointments: P...
Not specified: Carlton Senior Appointments: Senior MD Financial Advisor - San ...