Blue Buffalo Pet Products Offers Shares, Expects to Raise $501M+

Editor’s Note: We first published this story on July 10 but ICYMI here it is again.

By WENDY ANN MITCHELL (Patch Staff)

Blue Buffalo Pet Products, Inc. announced Wednesday the initial public offering (IPO) of shares of its common stock, according to NASDAQ.

The Wilton based company applied to list its common stock on the NASDAQ Global Select Market under the symbol “BUFF.” The shares will go up for public offering on July 22 and the company hopes to raise $501,000,000 from the sale.

Existing stockholders are selling 29,483,727 shares of common stock in the offering, NASDAQ stated, and underwriters will have a 30-day option to purchase up to an additional 4,422,559 shares of common stock. The estimated IPO price is between $16.00 and $18.00 per share. Non-management employees of the company will receive 35,934 shares, according to NASDAQ.

Tickerreport.com said Blue Buffalo provided the following description of their company for its IPO: “We are the fastest growing major pet food company in the United States, selling dog and cat food made with whole meats, fruits and vegetables, and other high-quality, natural ingredients. BLUE is a billion dollar brand based on sales at retail and is the #1 brand in the Wholesome Natural market segment. We currently have approximately 6 % share of the overall pet food industry and feed only 2-3% of the 164 million pets in the United States.”

Click here to read more on NASDAQ.com.

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