Phoenix, Ariz.-based Sprouts Farmers Market is mulling an initial public offering of stock, according to a Bloomberg report.
The Phoenix Business Journal says that the natural foods grocer, which generates revenues in the neighborhood of $2 billion, may begin interviewing underwriters to work on an IPO. Sprouts, started as a family owned chain in 2002, is owned and operated by Apollo Global Management LLC.
When emailed by the Journal seeking comment, Sprouts spokeswoman Kim Rockley said, “The executives are not commenting at this time.”
A stock offering could value the grocer at $2 billion, according to reports.
Sprouts, which operates 150 stores across eight states, opened its newest store at 1525 E. Glendale Ave. in Phoenix last week, the Journal says. The chain has plans to open an additional 17 stores this year and more in 2014.
Sprouts acquired Sunflower Farmers market last year in a deal that saw all Sunflower locations convert to Sprouts. The merger expanded Sprouts’ footprint to eight states. Sprouts has stores in Arizona, California, Colorado, Nevada, New Mexico, Oklahoma, Texas and Utah.
