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Dutch Bros. submits for IPO

By Stephen Nakrose

The coffee chain Dutch Bros. Inc. filed an IPO with the US Securities and Exchange Commission on Friday.

The drive-through chain serves a variety of beverages, including coffee, lemonade, energy drinks, and shakes.

The company said, “Our business model is based on highly efficient drive-thru,” adding, “Our new stores are typically 865 to 950 square feet and we target lots of at least 25,000 square feet to accommodate significant car volume throughout the day. “

The company says it has 470 stores in 11 US states.

In 2020, the company had sales of $ 327 million, of which $ 245 million from proprietary stores and $ 83 million from franchise stores. Last year, the company had sales of $ 238 million, of which $ 152 million from proprietary stores and $ 87 million from franchise stores.

Dutch Bros. said it intends to apply for listing on the New York Stock Exchange under the symbol “BROS”.

Underwriters on the offering include BofA Securities, JP Morgan, Jefferies, Barclays, Piper Sandler, Baird and William Blair.

– Write to Stephen Nakrose at [email protected]

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