Grocery Outlet Files to Sell $100M in Shares
EMERYVILLE, CA - After first filing its IPO confidentially on March 26, 2019, Grocery Outlet made another move to go public this week. The grocer reportedly filed on Monday with the SEC to raise up to $100 million in an initial public offering, according to a report by Nasdaq. The filing was first announced on IPO investment manager Renaissance Capital’s website.
While Grocery Outlet did not disclose pricing details, many in the industry believe the retailer is well positioned to meet its goal mark. Specifically, the news source noted that Grocery Outlet hit $2.3 billion in sales for the 12 months ended December 31, 2018, and $2.1 billion in the same period during 2017.
BofA Merrill Lynch, Morgan Stanley, Deutsche Bank, Jefferies, Barclays, Goldman Sachs, Guggenheim Securities, UBS Investment Bank, and Cowen are the joint bookrunners on the deal, according to the news source.
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