BBB Foods announces 13.3 million share offering with existing holders

BBB Foods Inc. (NYSE: TBBB), which operates under the Tiendas 3B brand, announced plans for an underwritten public offering of 13,304,174 Class A common shares. The company will offer 700,000 new shares while existing shareholders plan to sell 12,604,174 shares.

The Mexican grocery retailer filed the offering under an automatic shelf registration statement with the U.S. Securities and Exchange Commission. BBB Foods intends to grant underwriters a 30-day option to purchase up to 1,995,626 additional shares from the company.

The company plans to use proceeds from its portion of the offering for general corporate purposes, which may include strategic investments. The offering remains subject to market conditions with no guarantee of completion or final terms.

J.P. Morgan and Morgan Stanley serve as global coordinators for the offering, while BTG Pactual, Santander and Scotiabank act as joint bookrunners.

BBB Foods operates a hard discount grocery model in Mexico and completed its New York Stock Exchange listing in February 2024 under ticker symbol NYSE: TBBB. The company describes itself as one of Mexico's fastest-growing retailers by sales and store expansion.

The offering will be conducted through a prospectus and prospectus supplement filed with the SEC. Final terms will be disclosed in a supplemental filing with the commission.

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