Dutch Bros seeks to raise $100 million in IPO, hopes to have 4,000 coffee stands someday
Dutch Bros formally filed for its initial public offering Friday afternoon, with the southern Oregon coffee chain reporting that it hopes to raise $100 million by selling stock on Wall Street. The company said it will use the proceeds to pay down $192 million in long-term debt.
Dutch Bros did report that its sales totaled $327.4 million last year — up 27% from the year behind. The business booked $5.7 million in profits last year amid rapid growth. Prior reports had indicated that investment banks hoped Dutch Bros would be worth $3 billion on the public markets.
The company said it intends to trade on the New York Stock Exchange under the ticker symbol “BROS.”
Dutch Bros, which had grown rapidly by franchising its drive-thru coffee stands in prior years, has moved over the past four years to expand through company-owned outlets.
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