Dutch Bros Goes Public, Aims For Oregon’s Biggest Stock Launch
The Grants Pass-based coffee chain Dutch Bros plans to go public, which could turn one of its founders into a billionaire.
The New York Stock Exchange has Dutch Bros listed to set the price of its shares on Sept. 14, which will trade under the ticker symbol BROS.
Dutch Bros representatives say they can’t do interviews while under a federally mandated quiet period. Public filings say the company plans to price shares between $18 and $20 and raise up to $484 million.
The Oregonian/OregonLive reports that would be the biggest stock launch in state history, and that co-founder Travis Boersma would own a stake amounting to $1.43 billion dollars.
The company’s public filings outline an unusual stock structure that would give Travis Boersma more than 74% voting power; basically, ensuring another entity can’t acquire Dutch Bros through a “hostile takeover.” Arrangements like this can sometimes give shareholders pause, causing stock to underperform.
Dutch Bros has expanded aggressively in recent years, establishing more than 470 drive-thru coffee stands in 11 western states. It’s established a dedicated fanbase of customers who return for its unique and sugary drinks such as the “Hot Annihilator” or the “Tiger’s Blood Lemonade” served by cheery “broistas.”
Brothers Travis and Dane Boersma founded the company in Grants Pass in 1992 with a single coffee pushcart. Dane Boersma died of Lou Gehrig's disease in 2009.