Organic & Natural Food IPO Filing From Annie's (BNNY)

Everyone seems to love initial public offerings and there is a unique coming out.  A company called Annie’s, Inc. has filed its papers with the SEC to come public via an IPO. Annie’s, Inc. is a natural and organic food company that makes large packaged foods at affordable prices. 

Credit Suisse and J.P. Morgan are the only listed underwriters.  While no terms were set, the filing is for up to $100 million in common stock.  The company has taken the designated “BNNY” stock ticker and intends to list its shares for trading on the New York Stock Exchange.

The company noted, “Our products appeal to health-conscious consumers who seek to avoid artificial flavors, synthetic colors and preservatives that are used in many conventional packaged foods. We have the #1 natural and organic market position in four product lines: macaroni and cheese, snack crackers, fruit snacks and graham crackers.”

If you shop at Whole Foods or other organic and natural food destinations, you may have seen or purchased the company’s products before.  It claims over 125 products sold through more than 25,000 retail locations in the United States and Canada.

The company has grown at more than 15% on a compounded rate, increasing sales from $65.6 million in 2007 to $117.6 million in 2011. Its income from operations increased from fiscal 2007 to 2011 from a loss of $3.9 million to actual income of $15.1 million in fiscal 2011.

FULL FILING