Key facts
- Nutrabolt has chosen investment banks to lead its initial public offering.
- The company aims to raise up to $1 billion through the IPO.
- JPMorgan, Goldman Sachs, and Bank of America are among the selected banks.
- Nutrabolt is known for its C4 energy drinks and Bloom nutrition brand.
- The company anticipates exceeding $1 billion in annual revenue.
Nutrabolt, the Austin, Texas-based company behind popular brands like C4 energy drinks and Bloom nutrition products, has reportedly selected investment banks to lead its initial public offering. Sources familiar with the matter indicate the IPO could raise as much as $1 billion. The company is working with financial institutions including JPMorgan, Goldman Sachs, and Bank of America on the offering. This move signals a potential return for consumer and retail companies to the U.S. IPO market, which has seen increased activity following a prolonged slowdown. Nutrabolt, founded in 2002, also sells products under the XTEND and Cellucor brands. In 2022, Keurig Dr Pepper acquired a 30% stake in Nutrabolt for $863 million, valuing the company at $2.88 billion. Nutrabolt has stated it is on track to surpass $1 billion in annual revenue. The company declined to comment on rumors, as did the selected banks.