Sprouts Farmers Market Launches Initial Public Offering of 18,500,000 Shares

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PHOENIX, July 22, 2013 (GLOBE NEWSWIRE) -- Sprouts Farmers Markets, LLC (the "Company") today announced that it has commenced an initial public offering. In connection with the initial public offering of an aggregate of 18,500,000 shares of common stock, the Company intends to convert into a Delaware corporation, Sprouts Farmers Market, Inc. The Company is selling 17,702,215 shares of common stock and certain stockholders are selling 797,785 shares of common stock. It is currently estimated that the initial public offering price will be between $14.00 and $16.00 per share. The underwriters have an option, exercisable within 30 days after the date of the final prospectus relating to the offering, to purchase up to an additional 2,775,000 shares from the Company. The Company has applied to list its common stock on the Nasdaq Global Select Market under the ticker symbol "SFM".

The Company intends to use the net proceeds from the offering to repay approximately $247.6 million of outstanding indebtedness under its term loan facility and to use any remaining proceeds for general corporate purposes.

The offering is being made through an underwriting group led by Goldman, Sachs & Co., Credit Suisse, BofA Merrill Lynch, Apollo Global Securities, Barclays, Deutsche Bank Securities, UBS Investment Bank, Guggenheim Securities and Wolfe Research Securities. Goldman, Sachs & Co., Credit Suisse and BofA Merrill Lynch are acting as joint book-running managers of the offering, and Goldman, Sachs & Co. and Credit Suisse are the representatives of the underwriters.

This offering will be made only by means of a prospectus. Copies of the preliminary prospectus and, when available, final prospectus relating to the offering may be obtained from: Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, Telephone: 866-471-2526, Facsimile: 212-902-9316 or by emailing prospectus-ny@ny.email.gs.com; or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, Telephone: 800-221-1037, or by emailing newyork.prospectus@credit-suisse.com.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

CONTACT: Investor Contact: Susannah Livingston (602) 682-1584 susannahlivingston@sprouts.com Media Contact: Kim Rockley (602) 682-3173 kimrockley@sprouts.com

Source: Sprouts Farmers Market