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Fresh laid IPO: Pasture-raised egg producer Vital Farms files for a $100 million IPO

Vital Farms, the largest US producer of pasture-raised eggs and butter, filed on Thursday with the SEC to raise up to $100 million in an initial public offering.

From its beginning on a 27-acre plot of land in Texas, Vital Farms now has a network of 200 family farms and has become the leading US brand of pasture-raised eggs and butter and the second largest US egg brand by retail dollar sales. The company offers 20 retail SKUs across more than 13,000 stores as of March 2020.

The Austin, TX-based company was founded in 2007 and booked $155 million in sales for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol VITL. Vital Farms filed confidentially on December 6, 2019. Goldman Sachs, Morgan Stanley, Credit Suisse, and Jefferies are the joint bookrunners on the deal. No pricing terms were disclosed.

The article Fresh laid IPO: Pasture-raised egg producer Vital Farms files for a $100 million IPO originally appeared on IPO investment manager Renaissance Capital’s web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital’s research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital’s Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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