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Ronco Brands, a new Austin-based holding company for the maker of the Veg-o-Matic food processors and other iconic gadgets sold on late-night infomercials with the “but wait … there’s more” catchphrase, has filed to raise $30 million in an initial public offering.
And if investors act now, they can get a Ronco Rotisserie and Ronco Ready Grill along with their stock purchase — seriously.
The small company, incorporated less than two months ago as the parent of Ronco Holdings and its brands that include the Ronco Chiptastic Microwave Potato chip Maker, the Ronco 5 Minute Pasta Wizard and the Ronco Pocket Fisherman, among others, is valued at more than $100 million under the offering. William Moore, chief executive of Ronco Holdings, will control 97 percent of the shareholder voting rights once it’s completed.
In a written statement, Moore said: “The Ronco brand has been synonymous with ‘innovation’ for more than three generations of American consumers. Our products are found in millions of American homes. We’re proud of our legacy, and our reputation for providing American families with one of the most trusted and established lifestyle…