Oatly, which is causing a great furore with its oat milk, is preparing an IPO in New York. The producer of plant-based dairy alternatives would be worth up to 10 billion dollars there.
Worth 5 to 10 billion dollars
Sweden’s Oatly, once a spin-off from Lund University, is going public as the world’s largest producer of oat milk. The specialist in plant-based nutrition announces that it has submitted a confidential application to the US market authorities. The number of shares to be sold and the price range have yet to be determined.
Nevertheless, it is known that the market value could reach between 5 and 10 billion dollars, according to The Times. As recently as last summer, the company raised 200 million dollars in a funding round in which stars such as Oprah Winfrey, Natalie Portman and Jay-Z also invested in the trendy vegan manufacturer. At the time, the company was valued at 2 billion dollars.
Turnover doubles annually
Ex-Starbucks CEO Howard Schultz also stepped in at the time, as did a controversial investment by the Trump-linked fund Blackstone. Verlinvest, the investment vehicle of AB InBev family de Spoelberch, has been on board since 2016, according to Belgian newspaper De Tijd.
Oatly’s momentum is therefore unmistakable: the brand is now distributed in over twenty countries – including coffee houses such as Starbucks – and saw sales almost double to 200 million dollars in 2019. In 2020, the brand would have done the same thing again.
