BellRing Brands (BRBR) began trading on the NYSE on Thur 17 Oct 2019

• BellRing Brands upsized offering by 4.3 mln shares and priced 34.3 mln share IPO at $14.00 per share, below the expected range of $16-19
• Opened for trading at $15.60  
• Ticker: BRBR

 

Post +3% after subsidiary BellRing Brands (BRBR) successfully prices IPO

Overnight, BellRing priced an IPO consisting of 34.29 mln shares at $14.00. The company had initially expected to offer 30 mln shares between $16.00-19.00. Compared to these earlier expectations, gross proceeds are roughly 9% less than initially projected. The IPO is currently indicating $16/16.50, and should be opening for trade shortly.

Upon completion of the offering, Post is expected to own approximately 74% of BellRing, or approximately 71% if the underwriters exercise their option in full.

BellRing Brands is a holding company operating in the global convenient nutrition category, whose primary brands include Premier Protein, Dymatize and PowerBar.

PowerBar maker Bellring Brands (BRBR) files for IPO

• BellRing primarily sells ready-to-drink protein shakes (71% of FY18 sales), powders (14%), and nutrition bars (11%). The company's core brands are Premier Protein (77%), Dymatize (13%), and PowerBar (7%).
• Parent Post Holdings plans to sell 20% of its stake on the IPO.
• Ticker: BRBR

Bellring Brands Inc. (BRBR), a spinoff of Post Holdings (POST), has filed for an initial public offering, according to a Friday filing. The maker of PowerBar seeks to sell $100 million worth of shares, although that's often a placeholder used to calculate filing fees.

Cereal maker Post will own a majority of the combined voting power of the new company and "will have the ability to control the direction of our business," Bellring said in its prospectus. Bellring listed net earnings of $40.3 million in the fiscal third quarter, compared with net earnings of $29 million in the year-ago period. Sales grew to $828 million in fiscal 2018 from $575 million in fiscal 2016, Bellring said. In the fiscal third quarter of 2019, sales rose to $238 million, from $216 million in the fiscal third quarter of 2018. Underwriters include Morgan Stanley, Citigroup, and J.P. Morgan. Bellring filed to trade on the New York Stock Exchange under the symbol BRBR. Last month, Hershey (HSY) said it had agreed to buy nutrition-bar maker One Brands LLC for $400 million, and Simply Good Food (SMPL) announced its intention to buy Quest Nutrition LLC, another maker of protein bars, among other items, for $1 billion.

Post Holdings (POST) began trading on the NYSE on Jan 27, 2012

Shares of Post Holdings, Inc. began trading  on the NYSE on Jan 27, 2012, under the ticker symbol “POST” after the culmination of the spinoff from Ralcorp Holdings, Inc. (NYSE: RAH)

 

Ralcorp underwent several massive restructurings before ultimately being acquired:

1994 (Public Debut): Formed via a corporate spin-off from Ralston Purina. It began trading under the ticker symbol RAH on the New York Stock Exchange (NYSE)
2007–2008 (Major Brand Acquisition): Ralcorp purchased the major consumer brand Post Foods (makers of Honey Bunches of Oats and Grape-Nuts) from Kraft Foods for $2.6 billion
February 2012 (Post Holdings Spin-off): In an effort to focus entirely on its private-label (store-brand) business, Ralcorp spun off its branded cereal unit into a standalone public company known today as Post Holdings (NYSE: POST)
January 2013 (Final Acquisition): After long corporate negotiations, ConAgra Foods officially acquired Ralcorp for $5 billion in cash (a total transaction value of $6.8 billion including debt), taking the company private. ConAgra later sold off the bulk of Ralcorp's private-label operations to TreeHouse Foods in 2016.