The Barkby Group- Recent Reverse Takeover
Listed pub group, The Barkby Group (6 pubs with 57 rooms), has announced the reverse takeover of small family office, Dickson Controlled Entities, comprising a commercial property development business (Tarncourt) and a roasting and selling coffee business (Workshop Coffee) as well as two exciting pre IPO investment opportunities (Transcend Packaging and VivoPlex).
The new Enlarged Group will de-list from NEX and be admitted to AIM (subject to shareholder approval). It will form a mini conglomerate led by Charles Dickson, the son of Peter Dickson, the great grandson of the founder of Yates’s pubs, who was CEO during the hugely successful growth of the Yates pub chain from 1984-2001, taking it public in 1994.
· Market cap. on listing of £40.6m.
· Raised £5m of new money from institutional and private shareholders.
· Proceeds will be invested in each of the businesses to fund growth.
Since listing, Barkby has been hugely acquisitive, going from 3 pubs to 6 pubs in a couple of years. Today’s transaction will increase Barkby’s access to capital, allowing further transactions to take place within the pub space and leading to further consolidation. The proceeds from the Placing will be also be partly used to accelerate growth within each of the portfolio businesses, including Barkby pubs.