What is in this article?:
- New IPO Cashes In on Trends
- The Natural 'Advantage'
“We thought this was a good time to come to market — an opportune moment.”
— Kemper Isely, CEO, Natural Grocers by Vitamin Cottage
The company said it expected to raised more than $50 million in the offering to fuel its growth plans.
The Natural 'Advantage'
Isely said the company is projecting comps “in the mid-single digits” going forward. “Awareness of organic foods and natural foods is increasing, and [consumers] will continue to realize the advantage that natural and organic foods give them in their diet,” he said in the CNBC interview.
The company said it expected to raise more than $50 million in the offering to fuel its growth plans. It offered about 7.1 million shares, including about 3.5 million that were offered by previous investors and 3.6 million offered by the company itself. The stock now trades under the symbol NGVC on the New York Stock Exchange.
Members of the Isely family and their various holdings continue to own and control approximately 63.57% of the company’s common stock.
More Natural Grocers news: Natural Grocers Sets Expansion Plans
In addition to its aggressive store-opening plans, Natural Grocers also is in the process of relocating its bulk repackaging and distribution center. Although it sources about 53% of its product from United Natural Foods Inc. and UNFI subsidiary Albert’s Organics, the company also operates a 42,000-square-foot facility in Englewood, Colo., where it repackages private-label bulk foods, among other functions. It is relocating to a 107,000-square-foot facility in Golden, Colo.
The company recently extended its agreement with UNFI through 2016 for dry grocery and frozen foods.
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