IPO planned for retailer
Joules heads to market in £150m float
A listing would provide founder Tom Joule with a potential £120m windfall for his 80% stake. LDC, the private equity business of Lloyds Banking Group, owns the remainder.
Mr Joule launched the Joules chain at the age of 23 after working in his father’s business and now has 100 shops, famed for its colourful products.
Three years ago he launched a collaboration with the Edinburgh-based Cheeky Chompers baby products company after seeing its founders turned down for funds on the BBC’s Dragons’ Den.
According to The Sunday Telegraph, Joule has hired Peel Hunt and Liberum to float the business.