Berkeley, CA—Maker of organic macaroni and cheese and other organic comfort foods, Annie’s, Inc., based here, has had a successful initial public offering on the New York Stock Exchange. Stock prices climbed 89% on its first day of trading to nearly $40/share, raising $95 million for the company.
The 22 year-old company, famous for its bunny-shaped mac and cheese pieces modeled after its rabbit mascot, offered public investors five million shares at a starting price of $19 per share, trading under the symbol BNNY. CNN Money reports that Annie’s raked in $20 million in profits on $117.6 million in sales in 2011, up from $96 million in sales and $6 million in profits in 2010.
Annie’s claims that its products, including its macaroni and cheese, snack crackers, fruit snacks and graham crackers, are number one sellers in their various product categories, among organic products. The company was co-founded in 1989 by Annie Withey, who still personally writes the notes to consumers that appear on the back of the company’s packaging.
Published in WholeFoods Magazine, May 2012