Oatly Makes Plans to Go Public

Oat Milk Maker Could Be Valued at $5 Billion

Oatly, the plant-based food and beverage company, has confidentially filed for an IPO. Oatly is best known for its oat milk products and has partnerships with several large restaurant chains, including Starbucks (SBUX). It also sells its products online and in grocery stores. You may also recognize them from their Super Bowl ad, which is being called, “either the worst or best to ever air during the big game.”

Oatly is based in Sweden and has a presence in over 20 countries across Europe, Asia, and North America. Analysts say the company could be valued at over $5 billion.

Oatly Makes a Splash

Oatly was founded in the 1990s. It came to the United States in 2016 and since then has seen explosive growth. Oat milk sales in the US climbed about 350% year-over-year as of September 2020. Oat milk is currently the second most popular plant-based dairy option in the US, after almond milk.

Last summer, Oatly raised $200 million in equity from a group led by Blackstone (BX) which includes celebrities Oprah Winfrey, Natalie Portman, and Jay-Z. Howard Schultz, the former CEO of Starbucks, also participated in the round, which generated buzz about a potential IPO for the company. But until yesterday, the company had not shared concrete plans to go public.

The Plant-Based Food Industry is Poised for Growth

The plant-based food industry has gained significant attention from investors in recent years. A growing number of large restaurant chains and grocery stores are offering plant-based substitutes for milk, meat, and other products. These products are particularly popular among millennials and Gen Z.

Beyond Meat (BYND) has seen its sales and its stock price surge since it went public during the spring of 2019. More traditional food brands like Kellogg (K) and Tyson Foods (TSN) are also looking to gain market share in this booming industry. Soon, investors interested in the plant-based boom will be able to take a sip of Oatly.

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