Family set to make pots of cash as they prepare for £250m float of cookware firm they started in their kitchen
Windfall: Former software developer Daniel O’Neill
A Gloucestershire family have turned a mail order cookware firm they started in their garage into a £250million business.
Former software developer Daniel O’Neill, 56, and his mother Peggy started selling pots and pans from their cottage in Cheltenham in 1996.
The pair packed and dispatched the first orders themselves, and fielded customer calls from their front room.
Now, 25 years later, ProCook has 700 staff and 50 shops in prime locations such as Tottenham Court Road, London, and Cribbs Causeway in Bristol.
And when the business lists on the London Stock Exchange next month, O’Neill, his wife Sarah, 56, and brother Mike, 55, will cash in a quarter of their stake, pocketing around £62.5million.
Pro Cook took over £53million of sales last year, generating £13million of profit, and it now plans to open another 20 stores.
O’Neill said yesterday his mother, a former manager of children’s care homes who died in 2006, would have been ‘super proud’.
He added: ‘I hope the float will lift brand awareness. ‘It gives us a sense of pride working in a business that is successful, it’s a nice feeling.’
Non-executive chairman Greg Hodder said: ‘What Daniel and the team have achieved over the last 25 years is remarkable.
‘ProCook is a brilliant business with strong entrepreneurial foundations and a family-run culture, designing and sourcing beautiful, quality products at great value.’