BellRing Brands Inc.

BRBR

We are a rapidly growing leader in the global convenient nutrition category, aiming to enhance the lives of our consumers by providing them with highly nutritious, great-tasting products they can enjoy throughout the day. Our primary brands, Premier Protein, Dymatize and PowerBar, target a broad range of consumers and compete in all major product forms, including RTD protein shakes, powders and nutrition bars.

Our products are distributed across a diverse network of channels including club, FDM, eCommerce, convenience and specialty. Our vision is to create a healthier world where EVERYONE actively seeks and has access to great-tasting nutrition. Our commitment to consumers is to strive to make highly effective products that deliver best-in-class nutritionals and superior taste. Our Company is guided by the following core values:

 
      •  We Are Builders. We challenge the status quo, constantly striving for better, smarter ways to do things while maintaining our entrepreneurial agility to quickly seize opportunities.

 
      •  We Are Champions of Great-Tasting Nutrition. We believe nutrition sits at the core of a healthy and active lifestyle; however, we know that it is not always easy (or enjoyable) to be healthy. This is why we never compromise on our commitment to strive to make highly effective products that deliver best-in-class nutritionals and superior taste.

 
      •  We Are Better Together. We value each member of our team and know that success is only achievable through our collective efforts. We coach rather than tell and work hard to build people up through encouragement and empowerment.

 
      •  We Ring the Bell. We celebrate the small victories, as well as the big wins. We are a low-ego group—inspiring and appreciating each other, happily sharing credit—all to Ring the Bell.

We believe our largest brand, Premier Protein, is one of the top growth brands in the U.S. convenient nutrition category based on Nielsen data for Total US xAOC including Convenience for the 52 week period ended August 3, 2019 and is positioned to appeal to mainstream consumers focused on healthy nutrition. Our Premier Protein brand holds the #1 share position in the convenient nutrition category and RTD protein shakes as measured by Nielsen household panel data for all outlets for the 52 week period ended July 27, 2019.

Net sales of our Premier Protein RTD shakes grew at a CAGR of 42% from fiscal 2016 to fiscal 2018. Our Dymatize brand is a market leader targeting fitness enthusiasts, who value the brand for its science-based product development and athletic performance focus. Our PowerBar brand is one of the most well-known brands in the convenient nutrition category based on a survey powered by Qualtrics performed in June 2019 and targets a range of consumers from committed athletes to active individuals. 

Offer Price Offer Size 3-Year Outlook Volatility 1st Day Turnover
$14.00 34,300,000 Positive High 25.67%

Offering Team

Deal Managers

  • Morgan Stanley
  • Citigroup
  • J P Morgan Chase

Lawyers

  • Latham & Watkins LLP

Auditors

  • PricewaterhouseCoopers LLP

Pre-IPO Investors

Investors

  • Google Ventures
  • Intel Ventures
  • Patricoff Ventures
  • Kleiner Perkins

Pre-IPO Holdings(%)

  • 30
  • 20
  • 05
  • 18

Deal Highlights

Deal Tracker

Investors

Filing

16 Oct, 2019

Offer

17 Oct, 2019

Look Ahead

Lock Up Expiry

17 Apr, 2020

Earning

Nov 1, 2018

IPO Terms

Offer Price $14.00
Offer Size 34M

Market Sentiments

Stock Price