Hypermarcas Files for IPO

Hypermarcas, a Brazilian maker of food, cleaning, hygiene and medication products, has filed for an IPO on the Bovespa. The company had filed for an IPO last year, but pulled the plug when it opted to sell a 25% stake to a group of Mexican investors for $250m. Proceeds will fund new acquisitions, new product development, and working capital. The timing of the sale and expected price range were not communicated. Citi and Merrill Lynch are coordinating.