BellRing Brands, a spinoff of Post's active nutrition unit selling protein shakes, bars, and powders, announced terms for its IPO on Monday.
The St. Louis, MO-based company plans to raise $525 million by offering 30 million shares at a price range of $16 to $19. At the midpoint of the proposed range, BellRing Brands would command a market value of $2.2 billion.
BellRing Brands traces its roots to 1986 and booked $860 million in sales for the 12 months ended June 30, 2019. It plans to list on the NYSE under the symbol BRBR. It had been on our Private Company Watchlist since November 2018. Morgan Stanley, Citi, J.P. Morgan, Goldman Sachs, BofA Merrill Lynch, Barclays, BMO Capital Markets, Credit Suisse, Evercore ISI, Stifel, SunTrust Robinson Humphrey and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price on Wednesday, October 16, 2019.
