Corporate & Financial
Post Holdings Announces Launch of BellRing Brands Initial Public Offering
St. Louis – October 7, 2019 - Post Holdings, Inc. (NYSE:POST) (“Post”) today announced that one of its subsidiaries, BellRing Brands, Inc. (“BellRing”) has launched a roadshow for its initial public offering (“IPO”) of approximately 24% of its ownership.
BellRing is offering 30,000,000 shares of its Class A common stock in the IPO. The offering is being made pursuant to a registration statement on Form S‑1 filed with the Securities and Exchange Commission (the “SEC”). BellRing expects to grant the underwriters a 30-day option to purchase up to an additional 4,500,000 shares of Class A common stock at the IPO price, less underwriting discounts and commissions. The IPO price is currently expected to be between $16.00 and $19.00 per share. BellRing has received approval to list its Class A common stock on the New York Stock Exchange under the symbol “BRBR”.
Morgan Stanley & Co. LLC, Citigroup, J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC are acting as the lead bookrunning managers for the proposed offering. BofA Merrill Lynch, Barclays Capital Inc., BMO Capital Markets Corp., Credit Suisse Securities (USA) LLC, Evercore Group L.L.C., Stifel, Nicolaus & Company, Incorporated, SunTrust Robinson Humphrey, Inc. and Wells Fargo Securities, LLC are acting as bookrunning managers. HSBC Securities (USA) Inc., Nomura Securities International, Inc., PNC Capital Markets LLC, Rabo Securities USA, Inc. and UBS Securities LLC are acting as co-managers for the proposed offering.
This offering will be made only by means of a prospectus. A copy of the preliminary prospectus may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, Second Floor, New York, New York 10014; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, NY 11717, or by telephone at (800) 831‑9146; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803‑9204, or by email at email@example.com; or Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471‑2526, or by email at firstname.lastname@example.org.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any jurisdiction.
Forward Looking Statements
Certain matters discussed in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the current expectations and assumptions of Post and are subject to uncertainty and changes in circumstances. These forward-looking statements include, among others, statements regarding the IPO of BellRing. There is no assurance that the IPO of BellRing will occur and there are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Post’s filings with the SEC, including, but not limited to, the risk factors set forth in its most recent Form 10‑K, and any updates to such risk factors contained in subsequent Forms 10‑Q or Forms 8‑K. These forward-looking statements represent Post’s judgment as of the date of this press release. Post disclaims, however, any intent or obligation to update these forward-looking statements.
About Post Holdings, Inc.
Post Holdings, Inc., headquartered in St. Louis, Missouri, is a consumer packaged goods holding company operating in the center-of-the-store, refrigerated, foodservice, food ingredient and convenient nutrition food categories. Through its Post Consumer Brands business, Post is a leader in the North American ready-to-eat cereal category offering a broad portfolio including recognized brands such as Honey Bunches of Oats®, Pebbles™, Great Grains® and Malt-O-Meal® bag cereal as well as private label products. Post also is a leader in the United Kingdom ready-to-eat cereal category with the iconic Weetabix® brand. As a leader in refrigerated foods, Post delivers innovative, value-added egg and refrigerated potato products to the foodservice channel and the retail refrigerated side dish category, offering side dishes and egg, sausage and cheese products through the Bob Evans®, Simply Potatoes®, All Whites®, Better’n Eggs® and Crystal Farms® brands. Post’s convenient nutrition platform, BellRing Brands, will be a holding company operating in the global convenient nutrition category through its primary brands of Premier Protein®, PowerBar® and Dymatize®. Post participates in the private brand food category through its investment with Thomas H. Lee Partners in 8th Avenue Food & Provisions, a leading, private brand centric, consumer products holding company.
About BellRing Brands, Inc.
BellRing Brands, Inc. will be a holding company operating in the global convenient nutrition category. Its primary brands, Premier Protein®, Dymatize® and PowerBar®, comprise all major product forms, including ready-to-drink protein shakes, powders and nutrition bars, and are distributed across channels including club, food, drug, mass, eCommerce, convenience and specialty.
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