Annie's (BNNY) IPO Surges Higher
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The IPO for organic food maker Annie's, Inc. (NYSE: BNNY) is open for trading. Shares opened at $31.11 after pricing 5 million shares at $19 per shares, above the expected $16-$18 range, which was recently raised from $14-$16.
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.
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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