Privately held Canadian specialty tea retailer David's Tea, whose investors include Lululemon Athletica Inc founder Chip Wilson, has selected banks for a potential initial public offering, according to two people familiar with the matter. Goldman Sachs Group Inc, JPMorgan Chase & Co and Bank of America Corp have been assigned lead roles in the IPO, which could come later this year, the people said.The sources asked not to be identified because the matter is private. David's Tea, Goldman Sachs, JPMorgan and Bank of America declined to comment.Based in Montreal, privately held David's Tea was founded in 2008 by 28-year old David Segal and his cousin Herschel Segal, the founder of the Le Chateau Inc clothing chain.David's Tea sells over 150 types of tea, including exotic infusions from around the world, organic teas and infusions in more than 100 locations throughout the U.S. and Canada. It also sells a number of unique flavored teas including birthday cake, blueberry jam and chocolate chili chai.
Bank of America Corporation (Bank of America) is a bank holding company and a financial holding company. Shares of BAC remained unchanged at $16.35. In the past year, the shares have traded as low as $14.37 and as high as $18.21. On average, 83756896 shares of BAC exchange hands on a given day and today's volume is recorded at 164942.
The Goldman Sachs Group, Inc. (Goldman Sachs) is a global investment banking, securities and investment management company. Shares of GS remained unchanged at $182.22. In the past year, the shares have traded as low as $151.65 and as high as $198.06. On average, 2916640 shares of GS exchange hands on a given day and today's volume is recorded at 1928.
JPMorgan Chase & Co. (JPMorgan Chase) is a financial holding company. Shares of JPM remained unchanged at $57.82. In the past year, the shares have traded as low as $52.97 and as high as $63.49. On average, 17225800 shares of JPM exchange hands on a given day and today's volume is recorded at 15892.
lululemon athletica inc. is a designer and retailer of technical athletic apparel operating primarily in North America and Australia. Shares of LULU remained unchanged at $65.43. In the past year, the shares have traded as low as $36.26 and as high as $67.71. On average, 3100720 shares of LULU exchange hands on a given day and today's volume is recorded at 3.
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