- Largest maker of all natural dog and cat food in the US and Canada.
- The initial public offering price is $20.00 per share. In addition, Blue Buffalo will be issuing up to 35,934 shares to approximately 1,700 non-management employees at no cost to them.
- The IPO raised $677 million.
- Blue Buffalo is the fifth largest IPO this year.
- The company says it's the fastest-growing major pet food company in the U.S., "selling dog and cat food made with whole meats, fruits and vegetables, and other high-quality, natural ingredients."
- Another pet company, PetSmart had previously traded on the Nasdaq, starting with an IPO in 1993. It was acquired in a private equity deal for $8.7 billion in December 2014.
- Blue Buffalo follows the IPO of Freshpet (NASDAQ:FRPT) in November. Freshpet, which makes and sells refrigerated food and treats for dogs and cats using natural ingredients, priced its IPO shares at 15. The stock ticked up 0.2% to 18.46 Wednesday, up 23% from its IPO price.
- Blue Buffalo estimates the U.S. pet food industry had $26 billion in retail sales in 2014, with 63% of households purchasing pet food. Globally, sales hit $75 billion, according to Euromonitor.
- The largest provider of pet food is Nestle Purina, with an estimated 33% U.S. market share. Blue Buffalo says it has a 6% share, feeding 2% to 3% of the 164 million pets in the U.S.
- The Wilton, Conn.-based company was founded in 2002 by Bill Bishop and his two sons. Their inspiration for starting the company came as a result of their dog Blue coming down with cancer at a young age. Concerned about the lack of healthy ingredients in pet food, the Bishops decided to "develop a pet food that would provide a diet of high-quality, natural ingredients."
Address
11 River Rd Ste 103
WILTON, CT 06897-6011
United States
WILTON, CT 06897-6011
United States
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