BBB Foods Inc (TBBB) has filed for a proposed IPO.
The company describes itself as: "We are pioneers and leaders of the grocery hard discount model in Mexico and one of the fastest growing retailers in the country as measured by our sales and store growth rates. The 3B name, which references “Bueno, Bonito y Barato” – a Mexican saying which translates to “Good, Nice and Affordable”– summarizes our mission of offering irresistible value to budget savvy consumers through great quality products at bargain prices. From 2020 to 2022, our total revenue grew at a compounded annual growth rate (“CAGR”) of 34.4%, reaching Ps.32.6 billion (US$1.85 billion) for 2022, and our number of stores increased from 1,249 as of year-end 2020 to 2,288 as of year-end 2023, which represents a CAGR of 22.4%. Our total revenue for the 12-month period ended September 30, 2023 was Ps.41.2 billion (US$2.3 billion). "
J.P. Morgan and Morgan Stanley (NYSE:MS) will serve as lead underwriters.