B&M Bargains eyes stock market flotation
Discounter B&M Bargains is eyeing a flotation on the stock market, according to a report by Sky News.
The broadcaster revealed that US private equity firm Clayton Dubilier & Rice, which owns a 60% stake in the company, could decide to appoint investment bankers before the end of the year to manage a public listing.
The news comes less than 12 months after CD&R acquired B&M in a deal which saw former Tesco chief executive Sir Terry Leahy become B&M chairman.
According to Sky, the float would value B&M at well over £1 billion.
The discounter saw its profits rise by 43% to £90.6 million in the year to end December 2012 with sales increasing by 31.5% to £937.2 million.
Founded 1978 from its first store in Blackpool, B&M has since grown its business to over 350 stores and employs over 13,000 staff across the UK.
