BellRing Brands Inc. is the newest (almost) billion-dollar food company. If the name doesn't ring a bell, it's because the company was just spun off from Post Holdings in October.
Post Holdings at the end of last year announced its intention to separate its Active Nutrition business – essentially the PowerBar, Premier Protein, Joint Juice and Dymatize brands. The name BellRing Brands (bellring.com) was revealed in September of this year, one month before the unit's initial public offering of stock.
More than 39 million shares were sold Oct. 17-21 at an exercise price of $14 each. Post continues to hold 71% ownership in the new company.
Darcy Horn Davenport, who was president of Post's Active Nutrition business, is CEO of the new public company. Rob Vitale, president and CEO of Post, is executive chairman. The new company is based in Post headquarters in St. Louis.
On Nov. 21, BellRing announced results for its fiscal year ended Sept. 30. Full-year sales were $854.4 million, operating profit was $162.5 million and net earnings were $123.1 million. BellRing management expects fiscal year 2020 net sales to range between$1.0-$1.05 billion.
BellRing’s historical combined financial statements have been prepared on a stand-alone basis and are derived from the consolidated financial statements and accounting records of Post.