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IPO - Thursday, May 24, 2007

eTailer + Bricks Vitamin Shoppe Files IPO

vitamin shoppe.png
North Bergen, NJ-based Vitamin Shoppe, which retails vitamins, minerals, supplements and other nutritional products, has filed for a $150M IPO. It plans to trade on the NYSE under ticker symbol VSI, with Bear Stearns, Lehman Brothers and Bank of America serving as co-led underwriters.

Vitamin Shoppe has 300 retail locations but does much of its business via its Web site. Since 2003, revenues have increased from $331.2M to $486M.

Bear Stearns Merchant Banking acquired Vitamin Shoppe in 2002, and currently holds a 79.9% pre-IPO position. The company had done in IPO back in 1999.

Vitamin Shoppe competes with other retailers like Vitacost, which had web sales of $60M last year, as well as retailers like HGNC.

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