SkinnyPop Maker Amplify Launches IPO
AUSTIN, Texas — Amplify Snack Brands Inc., which owns the SkinnyPop popcorn and Paqui tortilla chips brands, has announced the launch of its initial public offering (IPO) of the company’s common stock.
The company said it expects the IPO price to be between $14.00 and $16.00 per share. It expects to raise approximately $225 million.
The offering is for 15 million shares of its common stock. All shares are being sold by existing stockholders, including certain directors and officers of the company. Amplify will not receive any of the proceeds of the offering.
The selling stockholders have also granted the underwriters a 30-day option to purchase up to 2.25 million additional shares of common stock.
Amplify has been approved to list its common stock on the New York Stock Exchange under the symbol BETR.
“Our SkinnyPop brand, established in 2010, embodies our BFY mission while also providing rapid revenue and earnings growth, robust and steady margins, and strong cash flows to help facilitate further investments in organic and inorganic growth opportunities,” the company said in a filing with the U.S. Securities & Exchange commission (SEC). “We believe SkinnyPop continues to take meaningful market share from a variety of sizeable subsegments of the overall U.S. salty snack segment, although the brand competes most directly in the RTE popcorn sub-segment of salty snacks.”
It continued, “We plan to continue to grow SkinnyPop by increasing its distribution, household penetration, product offerings per retail location and sales velocity, all of which will be supported by increasing brand awareness, new product introductions and favorable consumer trends.”
Austin, Texas-based Amplify Snack Brands is a snack food company focused on developing and marketing products that appeal to consumers’ growing preference for Better-For-You (BFY) snacks. Through simple, major allergen-free and non-GMO ingredients, Amplify’s brands embody the company’s BFY mission and have amassed a loyal customer base across a wide range of food distribution channels in the United States.
