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Oprah-backed Oatly plans IPO as oat milk continues to drive non-dairy market
Coronavirus causes dairy farmers to endure economic hardship
Black Cat Dairy co-founder Jason Leedle provides insight into farmers dumping milk because the demand isn’t there.
Oat milk could be the next cash cow.
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A source familiar with Sweden-based Oatly, which uses oats to make vegan products like milk, yogurt, and cheese, tells FOX Business that reports of a potential IPO are accurate.
The company, backed by the likes of Oprah Winfrey, Natalie Portman, and rapper Jay-Z’s entertainment company Roc Nation, could raise $1 billion and has reportedly hired Morgan Stanley, JP Morgan Chase and Credit Suisse to advise on the IPO, according to CNBC. Blackstone Group last July led a $200 million round of funding for Oatly.
Oatly did not return a request for comment.