March 26, 2018 / 3:36 PM / 6 months ago

Yeti Holdings withdraws IPO plans

March 26 (Reuters) - Yeti Holdings Inc, a U.S. manufacturer of “built-for-the-wild” coolers, said on Monday it has withdrawn its initial public offering, citing current market conditions.

The company applied in July 2016 to list on the New York Stock Exchange under the symbol “Yeti”.

Austin, Texas-based Yeti was founded by brothers Roy and Ryan Seiders, two sportsmen who decided to make coolers for the luxury outdoor market rather than for mass discount retailers.

In 2012, they sold majority ownership in Yeti to private equity firm Cortec Group Management Services LLC.

Reporting by Diptendu Lahiri in Bengaluru; Editing by Sriraj Kalluvila

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