Blue Buffalo, the largest maker of all natural dog and cat food, filed on Wednesday with the SEC to raise up to $500 million in an initial public offering. The entire float will be offered by selling shareholders.
Blue Buffalo is backed by founding members of the Bishop family and private equity group Invus, which invested in 2006.
Higher-quality pet food company Freshpet (FRPT) raised $156 million in its IPO last year; the stock gained 27% on its debut but now trades 24% above its offer price.
The Wilton, CT-based company, which was founded in 2002 and booked $940 million in sales for the 12 months ended March 31, 2015, plans to list on the NASDAQ under the symbol BUFF. Blue Buffalo initially filed confidentially on July 24, 2014. J.P. Morgan and Citi are the joint bookrunners on the deal. No pricing terms were disclosed.
$1 Bill annual sales: a lot of all natural pet food! Blue Buffalo files #IPO $BUFF $FRPT $IPO http://t.co/zvbSHxl9mz pic.twitter.com/iWU0kSCAgm
— Renaissance Capital (@IPOtweet) June 10, 2015
