June 20, 2006

Otis Spunkmeyer to Go Public

On Tuesday, June 20, 2006, San Leandro-based Otis Spunkmeyer filed a registration statement with the Securities and Exchange Commission for an initial public offering that could raise up to $230 million. Merrill Lynch & Co. and JPMorgan were listed as the underwriters.

In 2005, Otis Spunkmeyer had sales of $336.3 million with $5.4 million in profit.

Private equity firm Code Hennessy & Simmons bought Otis Spunkmeyer for $275 million in 2002 and its partners, Andrew W. Code, Steven R. Brown, and Thomas J. Formolo, and Vice President Mark A. Dolfato are on Otis Spunkmeyer's Board of Directors.

According to its web site, Otis Spunkmeyer sells "frozen gourmet cookie dough, ready-baked muffins, and a variety of other premium bakery products..." Otis Spunkmeyer made news last year by becoming one of the first US cookie makers to eliminate trans fats from its frozen cookie dough.

Otis Spunkmeyer's corporate headquarters is located at 14490 Catalina Street, San Leandro, California.

Posted by marga at June 20, 2006 7:55 AM | TrackBack
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