Annie's Inc. (Berkeley, Calif.), the natural and organic food company that raised $95 million from the sale of 5 million shares at $19 each in its March 2012 IPO, has announced another offering of roughly 3.17 million shares of common stock. Priced at $39.25 per share, the stock is to be sold exclusively by participating stockholders, with a 30-day option for an additional 476,084 shares. Annie's will not receive any proceeds from the sale. After the offering, funds advised by Solera Capital LLC will hold approximately 40% voting power.
From 2002 to 2005, Solera made several significant equity investments in the company, acquiring control and providing capital for internal growth and acquisitions. Best known for its bunny logo and organic macaroni and cheese in a box, Annie’s reported net sales of $141.3 million for fiscal 2012, an increase of 20.1% over the prior year.
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