Annie's (BNNY) IPO Prices at $19, Above Recently Raised Range

March 28, 2012 7:21 AM EDT
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Organic food maker Annie's, Inc. (NYSE: BNNY) priced its 5 million share IPO at $19 per shares, above the expected $16-$18 range, which was recently raised from $14-$16. Shares will open on the NYSE today under the symbol "BNNY."

The offering is being led by Credit Suisse and J.P. Morgan.

Annie's, Inc. is a rapidly growing natural and organic food company with a widely recognized brand, offering consumers great-tasting products in large packaged food categories. The company sells premium products made from high-quality ingredients at affordable prices. Annie's products appeal to health-conscious consumers who seek to avoid artificial flavors, synthetic colors and preservatives that are used in many conventional packaged foods. Annie's has the #1 natural and organic market position in four product lines: macaroni and cheese, snack crackers, fruit snacks and graham crackers.

Annie's increased net sales from $65.6 million in fiscal 2007 to $117.6 million in fiscal 2011, representing a 15.7% compound annual growth rate. Over the same period, income from operations increased from a loss of $3.9 million in fiscal 2007 to income of $15.1 million in fiscal 2011.

To keep up to date with the Annie's IPO please go the profile page at IPO Insider.

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