Kitchenware brand ProCook serves up London’s latest ecommerce float | Business News
ProCook, one of Britain’s biggest specialist kitchenware brands, is plotting to become the latest ecommerce group to serve up a London stock market listing.
Sky News has learned that ProCook is working with investment bankers on a review of strategic options that includes a public flotation.
Peel Hunt is advising ProCook on the review.
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.
So far this year, the likes of Revolution Beauty and Made.com, the online furniture retailer, have floated in London this year.
ProCook was founded more than 25 years ago as a family business, selling cookware sets by direct mail in the UK.
Based in Gloucester, it has grown into a multi-channel specialist kitchenware company, employing more than 600 people.
In its last financial year to March 2021, ProCook grew revenues by 37% to £53.5m, and City sources said that ProCook could be worth between £250m and £300m.
The company’s founder, Daniel O’Neill, remains involved in the business, while it recently brought in Dan Walden, former finance chief of Booking.com, as chief financial officer.
A spokesman for ProCook declined to comment on Monday.