Sweden-based oat milk company Oatly has announced in a press statement it has confidentially submitted a draft registration with the United States Securities and Exchange Commission (SEC) for an initial public offering (IPO). The IPO is subject to SEC’s review and market conditions, Oatly said. As per sources, the company could be valued at more than $10 billion.
The world’s largest oat milk company had earlier raised a $200 million equity investment from a group led by Blackstone Group Inc that includes celebrities Oprah Winfrey, Natalie Portman and former Starbucks Corp chief Howard Schultz.
Oatly is one of the world’s best known plant milk brands and has a presence in several countries in the US, Europe, and Asia. It also has tie-ups with major coffee and fast-food chains such as Starbucks. Today, it has expanded its dairy portfolio, including alternatives to milks, ice cream, yogurt, cooking creams, and spreads. Headquartered in Malmö, the Oatly brand is available in more than 20 countries globally.
The plant-based food sector is a fast growing category that has gained investors’ attention over the past few years. According to a recent report published by Allied Market Research, the global oat milk market garnered $360.5 million in 2019, and is projected to generate $995.3 million by 2027, witnessing a CAGR of 13.4% from 2021 to 2027. Being the largest oat milk industry player, Oatly would help the drive the growth of this sector in coming years and with its IPO plans, the thrust is expected to be even stronger.