Inverse Zone

Gaming and Tech news

Plant-based dairy company Oatly confidentially files its IPO

An advertisement for the plant-based dairy company Oatly, next to Barcelona’s Trambaix tram.

Jeff Greenberg | Universal Images Group | Getty Images

Swedish company Oatly, which counts Oprah Winfrey and rapper Jay-Z among its main backers, outlined plans for an initial public offering to regulators, the vegan food and drink maker said on Tuesday.

The planned stock market listing comes as the plant-based food industry has captured the attention of investors in recent years, especially as fast food chains and high-end restaurants are creating new menus to attract consumers. customers who care about their health and the environment.

Oatly, known for its oat dairy products, has ties to several cafes in the United States, including Starbucks and also sells its products online and in retail stores.

Much of the demand for plant-based foods is driven by millennials and Gen Z consumers, who are more than willing to spend on sustainable products that are also healthy.

Oatly raised a $ 200 million equity investment in July last year from a group led by black stone that includes Oprah Winfrey, Natalie Portman and former Starbucks chief Howard Schultz.

New investors also included Jay-Z’s entertainment company Roc Nation, Orkila Capital and Rabo Corporate Investments of Rabobank.

Oatly, founded by brothers Rickard and Björn Öste, was valued at around $ 2 billion in July, according to PitchBook.

The company, whose Oatly brand is available in more than 20 countries in Europe and Asia, could be valued at around $ 10 billion when it goes public, Bloomberg News reported earlier this month, citing people familiar with the subject.

Source link