US food manufacturer Post Holdings is making progress with a previously announced initial share offering by its Active Nutrition business, which it plans to rename BellRing Brands.
New York-listed Post Holdings revealed in 2018 it planned to spin off the Active Nutrition unit and was working on the structure of an IPO and associated operational agreements. In an update, the company confirmed 20% of the nutrition business will be given up through the share offering.
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BellRing has filed a registration statement with the US Securities and Exchange Commission for the proposed IPO of its class A common stock and has applied for a listing on the New York Stock Exchange under the symbol BRBR. Post Holdings said it has not yet finalised the price range for the shares.
The Active Nutrition business includes ready-to-drink protein beverages, protein powders, nutrition bars and other nutritional supplements under brand names such as Premier Protein, Dymatize, PowerBar, Supreme Protein and Joint Juice.
Post Holdings said it expects the IPO to be completed during the autumn. Its registration statement with the Securities and Exchange Commission has not yet become effective, it said in a statement on Friday (20 September), and added it could not guarantee that the transaction comes to fruition.
Last year, Post Holdings announced it would consolidate its private-label business into a new entity, 8th Avenue Foods & Provisions, having purchased US-based frozen food maker Bob Evans Farms the previous year.
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