Overview
iHerb Inc., an Irvine, California‑based online retailer of vitamins, supplements and related health‑and‑wellness products, has appointed JPMorgan Chase & Co., Morgan Stanley and Citigroup Inc. as lead managers for a proposed initial public offering expected to raise approximately $500 million. The listing could occur as early as later this calendar year, subject to ongoing deliberations.
Company Profile
The company offers sports nutrition, beauty, bath and personal‑care, grocery, baby and pet‑care items from nearly 2,000 brands. It employs more than 3,000 staff worldwide and serves over 15 million customers across more than 180 countries. In the most recent fiscal year, iHerb generated sales exceeding $2.8 billion and reported profitability, as disclosed by finance chief Mike Cody.
Recent Transactions
Earlier in the year, iHerb completed the acquisition of Vitacost, a business previously owned by Kroger Co., to strengthen its market presence in the United States.
IPO History
iHerb filed confidential IPO paperwork in 2021 but abandoned the process in early 2022. The current filing revives the fundraising effort with a target of $500 million.
Management Commentary
Finance chief Mike Cody confirmed the company’s profitability and reiterated the $500 million fundraising target during a Bloomberg interview, expressing confidence in the market.