Invus-backed Blue Buffalo Completes IPO, Raises $677M
July 23, 2015
Invus Group-backed Blue Buffalo Pet Products has completed its IPO, raising nearly $677 million in its debut on the NASDAQ. Trading under the ticker BUFF, the company priced shares at $20, above its previously announced range of $16 to $18. Backed by Invus since the mid-2000s, Blue Buffalo sells dog and cat food made with whole meats, fruits and vegetables, among other ingredients. In fiscal 2014, it generated EBITDA of $183.9 million on net sales of slightly under $918 million. Shares of the company closed yesterday's trading session up 36% at $27.20, garnering a market cap of $5.33 billion.