German Vegan Retailer Veganz Eyes IPO in 2018
The Berlin-based vegan food retailer Veganz is looking to treble sales this year and is eying a possible stock market listing in 2018, its founder said in a magazine interview Wednesday.
"People can't get enough of our products," Veganz chief Jan Bredack told the weekly WirtschaftsWoche.
Last year, Veganz clocked up annual sales of 24 million euros ($27 million) and "we're targeting sales of around 80 million euros for 2016," Bredack said.
Veganz operates its own supermarkets, but also sells its products via retailers such as Edeka, Kaiser's, Tengelmann and Globus.
It is also eying expansion to the United States.
Bredack said growth would be financed by new investors.
"I'm currently in talks with different lenders about investments totaling around 35 million euros," he told the magazine.
An initial public offering (IPO) "could be an option for us from 2018," Bredack added.
Source: Agence France Presse
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