business news in context, analysis with attitude

The Arizona Republic reports that Phoenix-based Sprouts Farmers Market announced yesterday that it plans an initial public offering (IPO) that is designed to raise between $259 million to $296 million.

According to the story, Sprouts said "that it plans to repay a $247.6 million loan with proceeds from the public stock offering and use any remaining funds for general corporate purposes."

A preliminary prospectus has been filed with the US Securities and Exchange Commission (SEC), but no date for the IPO has been set.

The story notes that "Sprouts, a natural foods market founded in 2002, has 13,000 employees and more than 163 stores in eight states, including 24 in Arizona. It opened 23 stores between May 2009 and October 2010. Sprouts merged with Sunflower Farmers Market in May 2012 and Henry’s Farmers Markets/Sun Harvest Farm in April 2011."
KC's View: