Black Rock Coffee Bar has confidentially filed for an IPO in New York, potentially valuing the chain at over $1 billion. The founder-owned restaurant is working with JPMorgan Chase, Jefferies Financial, and Morgan Stanley for the listing. Market conditions may impact the timing of the IPO. Investor interest in high-growth companies is driving IPO activity, with smaller coffee chains like Scooter’s Coffee also exploring sales.

Co-founders Jeff Hernandez and Daniel Brand started Black Rock Coffee in 2008 in Oregon, growing to over 150 locations across several states. The Scottsdale-based company specializes in drive-through service and offers a variety of coffee and energy drinks. The success of drive-through coffee chains like Dutch Bros, which went public in 2021 at a $5 billion valuation, is a positive sign for Black Rock Coffee’s potential IPO.

Read more at Yahoo Finance: Coffee chain Black Rock Coffee confidentially files to go public, sources say