Kerman & Co advised Applegreen plc (HQ in Republic of Ireland) in connection with its acquisition of a 50.01% majority stake in Welcome Break (UK) and the admission of its enlarged share capital to trading on AIM, in November 2018.
Applegreen is a major petrol forecourt retailer in the Republic of Ireland with a significant and growing presence in the United Kingdom and the US. From an operational base of 64 sites at the end of 2009, Applegreen has grown to 368 sites as at 30 June 2018, across the Republic of Ireland (184 sites), United Kingdom (112 sites) and the US (72 sites).
Welcome Break is the 2nd largest UK motorway service operator, attracting an estimated 85m motorway customers per annum. It’s well established business is compatible with that of Applegreen. The deal will see a significant step up in Applegreen’s earnings and provides a valuable synergy potential across the enlarged group.