Fairway Group Holdings, which operates 12 high-end grocery stores in the greater NYC area, announced terms for its IPO on Thursday. The New York, NY-based company plans to raise $150 million by offering 13.7 million shares (2% insider) at a price range of $10 to $12. At the midpoint of the proposed range, Fairway Group Holdings would command a market value of $454 million.
Fairway Group Holdings, which was founded in 1954 and booked $633 million in sales for the last 12 months ended December 30, 2012, plans to list on the NASDAQ under the symbol FWM. The company initially filed confidentially on August 2, 2012 and publicly on September 24, 2012. Credit Suisse, BofA Merrill Lynch, Jefferies & Co. and William Blair are the joint bookrunners on the deal.
