Golden Pet Brands has selected Morgan Stanley, Barclays and other investment banks to prepare an initial public offering (IPO), or first sale of shares to public investors, in New York that could take place as soon as this year. The El Segundo, California-based pet food company could be valued at more than $1 billion, according to people familiar with the matter. Golden Pet Brands owns Dr. Marty Pets, Badlands Ranch and Ultimate Pet Nutrition, whose products include food, treats and supplements for dogs and cats. The company was launched in 2017 by Golden Hippo before becoming an independent business using an Employee Stock Ownership Plan (ESOP), a structure giving employees an ownership stake. It operates two U.S. manufacturing facilities and in April appointed Apu Mody as chief executive officer and John Meloun as chief financial officer. The potential offering comes amid renewed consumer and retail IPO activity, including listings by Jersey Mike’s and Reformation this summer, while Open Farm and Wella remain in the pipeline.