Apollo-backed Sprouts files for IPO of up to $300 million
(Reuters) - Sprouts Farmers Markets LLC, an organic grocer backed by private equity firm Apollo Global Management LLC (APO.N), filed to raise up to $300 million in an initial public offering of its common stock.
The retailer was acquired by the private equity firm in 2011 and merged with Henry's Farmers Market, another Apollo holding. Sprouts was again merged with grocer Sunflower Farmers Market last year.
Goldman Sachs and Credit Suisse Securities are the lead underwriters to the offering, the company said in a filing with U.S. regulators on Thursday. (link.reuters.com/nyc97t)
Reuters reported in April that Sprouts had selected Goldman Sachs and Credit Suisse as underwriters.
Sprouts, which operates more than 150 stores across the United States, plans to use the proceeds to repay debt and for general corporate purposes.
The Phoenix-based company intends to list on the Nasdaq under the symbol "SFM".
The filing did not reveal how many shares the company planned to sell or their expected price.
Another Apollo-backed company -- jewelry and accessories retailer Claire's Inc -- filed to raise up to $100 million in an initial public offering last week.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.
(Reporting By Neha Dimri in Bangalore; Editing by Sriraj Kalluvila)
- North Korea says Kim's powerful uncle dismissed for 'criminal acts'
- Thai PM calls snap election, protesters press on |
- Protesters fell Lenin statue, tell Ukraine's president 'you're next'
- Singapore hit by rare outbreak of rioting, 27 arrested |
- Venezuela's Maduro to raise pressure on business after local vote