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The doughnut chain priced its offering at $17 per share, which was below its expected range.
IPOs by JDE/Peet’s and Krispy Kreme, and perhaps Panera Bread, signal a major shift in strategy for a firm many thought had long-term aspirations, says RB’s The Bottom Line.
Soaring valuations and a dearth of publicly traded consumer companies are setting the stage for a flurry of industry IPOs, says RB’s The Bottom Line.
The company set terms for its upcoming offering and started talking to investors as it seeks a return to the public markets.
The brand has seen significant revenue growth in recent years, but most of that has come from the acquisition of franchisee units, says RB’s The Bottom Line.
The doughnut chain, which also owns Insomnia Cookies, says it will use the funds to pay down debt.
Sweetgreen is the latest chain reportedly considering an initial public offering. Dutch Bros and Torchy’s are both considering a similar move and Krispy Kreme has already filed, says RB’s The Bottom Line.
The doughnut chain, which was taken private in 2016, has confidentially filed with federal regulators for an initial public offering.
The chain is also giving its employees paid time off to get the vaccine and is giving everybody a free coffee and a doughnut on Mondays this spring.
Taste Tracker: Black Bear’s festive holiday desserts, TGI Fridays Cluck-It Bucket, a hangover cure from Krystal and more new items debut in the last weeks of the year.