Oven of Mines plans to grow before issuing shares

The Oven, frozen food manufacturer, will wait longer to make its initial public offering (IPO) of shares on BM & FBovespa. "The market is bad and ends up evaluating the company with low value. The company expects the stock market to improve in order to assess whether the process of opening of capital or a partner investor, "said Helder Marin, President of the company.
The company made the registration as a publicly-traded company in the Brazilian Securities Commission (CVM) in 2015 and there was expectation that would issue shares this year. Before the IPO, the Oven mines intends to expand the distribution of products, mainly for the food service market, and develop new lines to accelerate the pace of growth of the company. For the year 2017, with those efforts, a 30% growth in sales.
Last year, the company registered growth of 39.8% in net revenues, reaching R$ 283 million. The full balance of the company will be published until March. From January to September, the Oven mines recorded net revenues of R$ 202,400,000, with an increase of 25.3% compared to the same range of 2015. Net profit reached R$ 19,600,000, with 92.9% increase compared to the same period of the previous year.
The Oven of Mines is a family business founded in 1990. In 1999, the control was sold to the American multinational General Mills. In 2009, the founding family bought back the business. The following year she Mercatto Manager bought 29 percent of the company. In 2013, the Fund managers Mercatto, Trapezus and BR Partners merged in Chaos. "After the repurchase, gave too much focus on the recovery of retail space, while we expand our product lines," says Marie.
The service to the food service market started in 2013. Currently, the company has 15000 customers in that area, reaching 350,000 retail outlets. Marin said see potential to reach 150,000 customers and 1 million points of sale, within three to four years. In 2016, has expanded the customer base in the segment in 25%. According to Marin, the food service accounted for 30% of company sales in 2016. The prospect is to reach 50% of sales up to 2020. "It is the area with more opportunity to grow in time. In retail, the brand is already well consolidated. To grow you need to have new products or do promotions ", says the Executive.
The frozen cheese bread lines represent 75% of the sales of the Oven. The company has sought to diversify its portfolio, with rows of waffles, pies, pastries, empanadas and frozen quiche, plus frozen fresh pasta.
In Brazil, according to Euromonitor International, the cheese bread frozen is the main item in the category of frozen bakery products. The category grew 7 .3 percent in volume in 2016, to 46300 tons, estimates consultancy. By revenue, rose 15.6%, to R $8,200,000 7. The Oven mines leads the market with 53.2% of sales
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