Phoenix, AZ-
By ANUK Staff
02.08.13
Sprouts Farmers Market LLC is said to be considering an initial public offering, according to Bloomberg. Three people familiar with the matter were noted as sources for the report. The company could begin interviewing underwriters for an IPO soon, the report suggests.
Sprouts has plans to open an estimated 20 stores this year. The company brings in nearly $2 billion in revenue annually and $150 million a year in earnings before interest, taxes, depreciation and amortization.
Sprouts expanded after Apollo combined the company with another business owned by the same family during a February 2011 buyout. In addition, Sprouts completed an acquisition of 35 Sunflower Farmers Market locations in May.
Apollo is exploring a Sprouts offering after the largest U.S. IPOs by private equity-backed companies have made money for investors.
