{"id":114044,"date":"2021-02-24T00:45:22","date_gmt":"2021-02-24T00:45:22","guid":{"rendered":"https:\/\/precoinnews.com\/?p=114044"},"modified":"2021-02-24T00:45:22","modified_gmt":"2021-02-24T00:45:22","slug":"plant-based-milk-company-oatly-confidentially-files-for-ipo","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/plant-based-milk-company-oatly-confidentially-files-for-ipo\/","title":{"rendered":"Plant-based milk company Oatly confidentially files for IPO"},"content":{"rendered":"<ul>\n<li>Oatly, known for its oat milk products, has tie-ups with several cafes in the United States, including Starbucks and also sells its products online and in retail stores.<\/li>\n<li>The company, which sells its Oatly brand of products in more than 20 countries across Europe and Asia, could be valued at more than $5 billion.<\/li>\n<li>Oatly raised a $200 million equity investment in July last year from a group led by Blackstone that includes Oprah Winfrey, Natalie Portman and former Starbucks chief Howard Schultz.<\/li>\n<\/ul>\n<p>Sweden-based Oatly, which counts Oprah Winfrey and rapper Jay-Z among its prominent backers, has submitted plans for an initial public offering to regulators, the maker of vegan food and drink products said on Tuesday.<\/p>\n<p>The company, which sells its Oatly brand of products in more than 20 countries across Europe and Asia, could be valued at more than $5 billion and has hired Morgan Stanley, JPMorgan and Credit Suisse as underwriters on the offering, sources told Reuters.<\/p>\n<p>The planned stock market listing comes as the plant-based food sector has gained investor attention over the past few years, especially as fast-food chains and upscale restaurants create new menus to attract health- and environment-conscious diners.<\/p>\n<p>Oatly, known for its oat milk products, has tie-ups with several cafes in the United States, including Starbucks and also sells its products online and in retail stores.<\/p>\n<p>Much of the demand for plant-based food is being led by millennials and generation Z consumers, who are more than willing to spend on sustainable products that are also healthy.<\/p>\n<p>Oatly raised a $200 million equity investment in July last year from a group led by Blackstone that includes Oprah Winfrey, Natalie Portman and former Starbucks chief Howard Schultz. <\/p>\n<p>The new investors also included Jay-Z&#x27;s entertainment company Roc Nation, Orkila Capital and Rabobank&#x27;s Rabo Corporate Investments.<\/p>\n<p>Oatly, founded by brothers Rickard and Bj\u00f6rn \u00d6ste, was valued at about $2 billion in July, according to PitchBook.<\/p>\n<p>JPMorgan and Credit Suisse had no immediate comment when contacted by Reuters, while Morgan Stanley declined to respond.<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/02\/23\/plant-based-milk-company-oatly-confidentially-files-for-ipo.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oatly, known for its oat milk products,<\/p>\n","protected":false},"author":3,"featured_media":114043,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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