Montreal-based specialty tea retailer DAVIDsTEA has already selected major Wall Street investment banks to underwrite their initial public offering. The Canadian firm which includes Lululemon (LULU) founder Chip Wilson and Highland consumer funds as investors, has assigned Goldman Sachs, J.P. Morgan and BOA Merill Lynch lead roles for the IPO. DAVIDsTEA hopes to raise $75 million and list on the NASDAQ under the ticker DTEA.
DAVIDsTEA was founded in 2008 by David and Herschel Segal, the later being the entrepreneur behind the now troubled Canadian fashion retail chain Le Chateau.
DTEA is a rapidly growing specialty beverage company that offers a lineup of 150 loose-leaf tea blends, pre-packaged teas and tea-related gifts and accessories. As of March 31, 2015, t...