KKR-backed Bountiful Co. files for IPO
The Bountiful Co. has filed for an initial public offering, seeking to sell $100 million worth of shares, although that figure is often a placeholder used to calculate filing fees. The maker and marketer of vitamins, supplements, and other wellness products, backed by private-equity firm KKR & Co., plans to to trade on the New York Stock Exchange under the symbol BTFL. J.P. Morgan and Morgan Stanley are among the underwriters. The company, which changed its name from Nature's Bounty Co. in January, said it earned $54.3 million in the three months ended in December, compared with $6.9 million in the three months ended in December 2019. Sales rose to $629.4 million in the October-December period, from $429.8 million in the same period in 2019, the company said in the filing Monday. The nutrition category has been "resilient" through recessions and that has held through the COVID-19 pandemic, the company said.
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