Freshpet LLC, maker of a healthy variety of cat and dog food, has selected Goldman Sachs Group Inc and Credit Suisse Group AG to lead an initial public offering by the end of the year, two people familiar with the matter said on Wednesday. Freshpet's plans to go public come amid a wave of IPO and mergers and acquisitions activity in the "premium pet food" sector, driven by rising pet ownership and an increase in pet food spending.Larger rival Blue Buffalo Co, for example, which is backed by private equity firm Invus Group LLC, selected banks in March for an IPO, people familiar with the matter told Reuters at the time.And just earlier on Wednesday, privately held Mars announced a $2.9 billion deal to acquire Procter & Gamble Co's pet food business, which includes brands like Iams and Eukanuba.Founded in 2006, Freshpet makes fresh, refrigerated food for dogs and cats as an alternative to dry or canned food. Freshpet's products, available at stores including Target Corp and Wal-Mart Stores Inc, do not have preservatives, fillers, corn or wheat.
Credit Suisse Group AG is a Switzerland-based holding company engaged in private banking, investment banking and asset management areas. Shares of CS traded higher by 0.77% or $0.25/share to $32.53. In the past year, the shares have traded as low as $25.93 and as high as $33.98. On average, 896060 shares of CS exchange hands on a given day and today's volume is recorded at 807840.
The Goldman Sachs Group, Inc. (Goldman Sachs) is a global investment banking, securities and investment management firm that provides a range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Shares of GS traded higher by 1.02% or $1.6/share to $158.16. In the past year, the shares have traded as low as $137.29 and as high as $181.13. On average, 3519100 shares of GS exchange hands on a given day and today's volume is recorded at 4009981.
Target Corporation sells a range of assortment of general merchandise and food in its stores. Shares of TGT fell by 0.47% or $-0.29/share to $61.21. In the past year, the shares have traded as low as $54.66 and as high as $73.50. On average, 6554290 shares of TGT exchange hands on a given day and today's volume is recorded at 4696235.
Wal-Mart Stores, Inc. (Walmart), operates retail stores in various formats globally. Shares of WMT fell by 0.27% or $-0.21/share to $77.97. In the past year, the shares have traded as low as $71.51 and as high as $81.37. On average, 7141760 shares of WMT exchange hands on a given day and today's volume is recorded at 6877719.
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