Post Holdings, Inc. (NYSE:POST) (“Post”) and BellRing Brands, Inc.
(“BellRing”) today announced the pricing of BellRing’s initial
public offering (“IPO”) of 34,285,714 shares of BellRing’s
Class A common stock at a price to the public of $14.00 per
share (the “IPO price”). In addition, BellRing has granted the
underwriters a 30-day option to purchase up to an
additional 5,142,857 shares of its Class A common stock at the
IPO price, less underwriting discounts and commissions. Upon
completion of the offering, Post is expected to own approximately
74% of BellRing, or approximately 71% if the underwriters exercise
their option in full. BellRing’s Class A common stock is expected
to begin trading on the New York Stock Exchange on October 17, 2019
under the symbol “BRBR”. The offering is expected to close on
October 21, 2019, subject to customary closing conditions.
Morgan Stanley & Co. LLC, Citigroup, J.P. Morgan Securities
LLC and Goldman Sachs & Co. LLC are acting as the lead
bookrunning managers for the 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 offering.
This offering will be made only by means of a prospectus. A copy
of the final 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 prospectus-eq_fi@jpmchase.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 prospectus-ny@ny.email.gs.com.
A registration statement relating to these securities has been
filed with, and declared effective by, the Securities and Exchange
Commission. 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 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, is 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. is 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.
Contact:Investor RelationsJennifer Meyer
jennifer.meyer@postholdings.com (314) 644-7665
Media RelationsLisa Hanlylisa.hanly@postholdings.com(314)
665-3180
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