NEWS

B&M gets ready to float

Published on: 19th May 2014

The discount retailer is readying a stock market debut that values the firm at more than £2b, in a move which could be announced as early as this week.
b&mbargains750

The Liverpool-based company would follow discounting rival Poundland, which raised £375m on its entry into the London market back in March.

B&M, which has grown from 27 to 370 stores since it was bought by the Arora brothers in 2004, has been 60% owned by private equity fund Clayton Dubilier & Rice since 2012.

Simon, Bobby and Robin Arora became multi-millionaires when the US private equity outfit took its stake, and stand to make even more during the initial public offering. The Sunday Times yesterday put the combined wealth of the Sale-born brothers at £1.4b, up from £1.1b a year ago.

B&M sells everything from instant noodles and baked beans to patio furniture. The firm posted revenue growth of 31.5% to nearly £1b in 2012 and now employs more than 11,000 staff.

If you would like to receive our daily newsflash email, please enter your email address in the “sign-up” box at the top of the page; you can also follow us on Twitter and Facebook and request a print subscription here.

RECENT ARTICLES

Friday Blog

Retail’s back, baby …it’s the Friday Blog!

Asmodee national sales team strengthened by promotions

DKB Toys & Distribution announces acquisition of Mightymast Leisure

Exclusive: Flair Just Play on Blue’s Clues

Playmobil welcomes new territory manager

Kids International Marketing makes changes to sales team

Studio.co.uk unveiled as lead sponsor for ITV gameshow In for a Penny

Stricken Suez ship Ever Given owner declares General Average

Exclusive: We’ve missed you! Indies ready for reopening

Exclusive: Small World – Zuru talks to Toy World about 5 Surprise Mini Brands