Agreement has been reached on the terms of a cash offer for Applegreen made by BidCo. BidCo is a newly formed company that includes Applegreen founders Robert Etchingham and Joseph Barrett and Blackstone, a multi-billion dollar private equity and investment group. The acquisition values the entire issued and to be issued share capital of Applegreen at approximately €718.1m. Commenting on the acquisition, Robert Etchingham and Joseph Barrett said: “Looking forward, Applegreen will transition its business through capital intensive highway projects and electric vehicle charging infrastructure to meet the needs of an evolving consumer. As at June 30 Applegreen operated 559 sites, including 69 motorway service area sites and employed around 11,145 people across its main territories.

Source: Irish Independent December 22, 2020 08:07 UTC