Applegreen shares surge 42% on cash buyout offer for Ireland's largest forecourt operator

Anna Geary, GAA player and TV personality, at the Applegreen branch on Cork's North Ring Road.

Applegreen, Ireland's largest petrol forecourt operator, is set to be taken private by its founders Bob Etchingham and Joe Barrett with the financial might of US equity giant Blackstone, after enduring a rollercoaster share price performance on the Irish stock exchange since its debut over five years ago. The shares surged by 42%. 

The independent directors on the Applegreen board will now consider the €5.75 a share proposed cash offer for the company which is also the second-largest motorway service station in Britain based on selling food from big name operators and its own brand. It has a presence in the US too.