Simpson Thacher recently represented BellRing Brands, Inc. (“BellRing”) in connection with an underwritten secondary offering of 4,597,339 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 J.P. Morgan Securities LLC (“the selling stockholder”). Such shares were then sold by the selling stockholder to the underwriters in the offering. In addition, concurrently with the offering, BellRing effected a repurchase of 925,000 shares from the underwriters out of the 4,597,339 shares that were sold in the offering.
J.P. Morgan Securities LLC acted as the lead book-runner and representative of the underwriters for the offering. Morgan Stanley & Co. LLC, Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC acted as additional book-runners 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 and Eunice Chang (Capital Markets); Andrew Purcell, Edward Grais and Matthew Lester (Tax); Jeannine McSweeney, Gary Tashjian and Charles Pfeifer (ECEB); Vanessa Burrows (Healthcare); and Melanie Jolson and Rachelle Broida (IP).