Gloucestershire kitchenware brand is set to float on the stock market for £300 million

A Gloucestershire businessman who left school aged 15 is about to float his company on the stock market with a valuation of between £250 and £300 million.

ProCook, the online and high street kitchenware retailer that was founded in Gloucestershire, is about to float on the stock market, potentially worth as much as £300 million.

It will mark a milestone for the Daniel O’Neill, who left school aged 15 and then transformed his career in 1996 when, as a 26-year-old software engineer, he launched ProCook from his kitchen table in Gloucestershire.

Today the business employs an estimated 700 staff and has just announced its second year of near 40 per cent growth, with turnover reaching £53.4 million and profits climbing from £25.4 million to £36.6 million.

Mr O’Neill, who as a schoolboy would get up before dawn and roller-skate to his local market to help stall owners unpack to earn money, said: ‘Today’s news reflects the incredible progress that ProCook has made in recent years and is testament to the efforts and dedication of all our staff in bringing us to this stage in our story.

‘We have achieved a lot but there is more to come, and we are as ambitious as ever.’

With the aim of becoming the UK’s most recognised kitchenware brand, ProCook shows no signs of slowing down – and expects to create more jobs in Gloucestershire in 2022, too.

As part of the flotation, smaller investors will also be welcome, giving Gloucestershire residents a chance to share in the firm’s future success.

Mr O’Neill was adamant the public listing will not be the end of his role in the business.

The UK cookware market is currently worth an estimated £3.6 billion and ProCook also has eyes on the German, French and Dutch markets, which have a collective value of £8.1 billion.

It forecasts the domestic and international markets to ‘grow steadily’ saying it was ‘very well positioned to take advantage’.

See Turnover passes £53 million for Gloucester retail business ProCook for more information.

By Andrew Merrell

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© SoGlos
Friday 15 October 2021

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