Oat Milk Maker May Be Valued at $5 Billion
Oatly, the plant-based meals and beverage firm, has confidentially filed for an IPO. Oatly is finest identified for its oat milk merchandise and has partnerships with a number of giant restaurant chains, together with Starbucks (SBUX). It additionally sells its merchandise on-line and in grocery shops. You might also acknowledge them from their Tremendous Bowl advert, which is being known as, “either the worst or best to ever air during the big game.”
Oatly is predicated in Sweden and has a presence in over 20 nations throughout Europe, Asia, and North America. Analysts say the corporate may very well be valued at over $5 billion.
Oatly Makes a Splash
Oatly was based within the Nineties. It got here to the US in 2016 and since then has seen explosive development. Oat milk gross sales within the US climbed about 350% year-over-year as of September 2020. Oat milk is at the moment the second hottest plant-based dairy possibility within the US, after almond milk.
Final summer time, Oatly raised $200 million in fairness from a gaggle led by Blackstone (BX) which incorporates celebrities Oprah Winfrey, Natalie Portman, and Jay-Z. Howard Schultz, the previous CEO of Starbucks, additionally participated within the spherical, which generated buzz a couple of potential IPO for the corporate. However till yesterday, the corporate had not shared concrete plans to go public.
The Plant-Primarily based Meals Business is Poised for Development
The plant-based meals business has gained vital consideration from buyers in recent times. A rising variety of giant restaurant chains and grocery shops are providing plant-based substitutes for milk, meat, and different merchandise. These merchandise are significantly in style amongst millennials and Gen Z.
Past Meat (BYND) has seen its gross sales and its inventory value surge because it went public through the spring of 2019. Extra conventional meals manufacturers like Kellogg (Okay) and Tyson Meals (TSN) are additionally trying to achieve market share on this booming business. Quickly, buyers within the plant-based growth will be capable of take a sip of Oatly.
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