| April 22
April 22 Sprouts Farmers Market, an organic
grocer owned by private equity firm Apollo Global Management LLC
, has selected underwriters for an initial public
offering later this year, according to two sources familiar with
The Phoenix-based company has chosen Goldman Sachs Group Inc
and Credit Suisse AG to lead a proposed
offering, the sources said.
Goldman Sachs and Credit Suisse declined to comment. Apollo
and Sprouts could not be reached for immediate comment.
The people asked not to be named because the matter is not
Sprouts was originally a family-owned chain which traces its
roots back to a fruit stand founded in 1943. The company now
operates more than 150 stores in Arizona, California, Colorado,
New Mexico, Nevada, Oklahoma, Texas and Utah.
Sprouts was acquired by Apollo in 2011 and was later merged
with Henry's Farmers Market, another Apollo holding. Last year,
Sprouts was merged again with grocer Sunflower Farmers Market.
Sprouts generates roughly $2 billion in annual revenue,
according to several media reports.
The company is trying to come to market amid strong share
performances from other high end grocers like Whole Foods Market
Inc and Fresh Market Inc.
Shares of Fairway Group Holdings Corp also surged
more than 30 percent after the grocery chain's IPO last week in
which it raised $178.1 million.
(Reporting By Olivia Oran and Greg Roumeliotis in New York;
Editing by Bernard Orr)