Simpson Thacher recently represented BellRing Brands, Inc. (“BellRing”) in connection with an underwritten secondary offering of 14,800,000 shares of its common stock previously owned by Post Holdings, Inc. (“Post”), BellRing’s former parent company. Prior to the closing of the offering, Post exchanged such shares for certain indebtedness of Post that was held by affiliates of the underwriters. Such shares were then sold by such affiliates of the underwriters in the offering. In addition, concurrently with the offering, BellRing effected a repurchase of 800,000 shares from the underwriters out of the 14,800,000 shares that were sold in the offering.
J.P. Morgan Securities LLC, Barclays Capital Inc., Morgan Stanley & Co. LLC, Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC acted as the underwriters of the offering.
BellRing is a rapidly growing leader in the global convenient nutrition category offering ready-to-drink shake and powder protein products. Its primary brands, Premier Protein® and Dymatize®, appeal to a broad range of consumers and are distributed across a diverse network of channels including club, food, drug, mass, eCommerce, specialty and convenience.
The Simpson Thacher team included Hui Lin, Jessica Asrat, Sean Dougherty, Pia Figuerola and John Balletta (Capital Markets); Andrew Purcell, Edward Grais and Matthew Lester (Tax); Jeannine McSweeney, Gary Tashjian and Charles Pfeifer (ECEB); Vanessa Burrows (Healthcare); and Lori Lesser, Melanie Jolson and Rachelle Broida (IP).