Natural Grocers by Vitamin Cottage, a mid-west retailer of natural and organic groceries and dietary supplements, announced terms for its IPO on Thursday. The Lakewood, CO-based company plans to raise $100 million by offering 7.1 million shares (49% insider) at a price range of $13.00 to $15.00. At the midpoint of the proposed range, Natural Grocers by Vitamin Cottage would command a market value of $305 million.
Natural Grocers by Vitamin Cottage, which was founded in 1955 and booked $297 million in sales for the 12 months ended 3/31/2012, plans to list on the NYSE under the symbol NGVC. Natural Grocers is owned by the Isely Family, which is selling 20% of its stake on the offering. Suntrust Robinson Humphrey and Piper Jaffray are the joint bookrunners on the deal.
