German vegan retailer Veganz eyes IPO in 2018

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The Berlin-based vegan food retailer Veganz is looking to treble sales this year and is eyeing a possible stock market listing in 2018, its founder said in a magazine interview.
“People cannot 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 are targetting 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 eyeing expansion to the United States.
Bredack said growth would be
financed by new investors.
“I am currently in talks with different lenders about investments totalling around 35 million euros,” he told the magazine.
“An initial public offering (IPO) could be an option for us from 2018,” Bredack pointed out.

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