Oat milk, which was essentially non-existent in the US before Oatly’s entrance, saw a 151 per cent jump in sales in dollar terms at retail outlets during the 52-week period ended March 13, according to NielsenIQ. The plant-based dairy category as a whole rose 20 per cent during the same period. By sales, oat milk is the second-most popular option after almond milk.
In July, Oatly secured $200m in new capital from investors led by Blackstone Group. The group also included celebrities such as Oprah Winfrey and Jay-Z, as well as Starbucks founder Howard Schultz. The company was valued at about $2bn in the round.
Oatly sees valuation possibly over US$10 billion as U.S. IPO nears
John J. Edwards III, Bloomberg News
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Oatly Group AB expects to raise as much as US$1.65 billion for itself and its investors in an initial public offering, potentially giving the maker of plant-based food and drink products a total valuation of over US$10 billion.
The Malmo, Sweden-based company is offering 64.7 million American depositary shares and expects an IPO price of US$15 to US$17 per ADS, with net proceeds to the company of US$976.6 million at the middle of that range, according an amended filing Tuesday. The document adds details to Oatlyâs original IPO filing last month.
Oatly, a Swedish consumer goods company with high-profile investors including Oprah Winfrey, former
Starbucks (NASDAQ:SBUX) CEO Howard Shultz, and entertainer Jay-Z, just filed its F-1 the pre-IPO prospectus that foreign companies are required to file before listing shares in the U.S. The document is intended to give potential shareholders a comprehensive view of the company s business and financial history.
Here s what investors need to know about Oatly before its shares start trading.
Image source: Getty Images.
The business
Founded more than 25 years ago by two food scientists, brothers Rickard and Bjorn Oste, Oatly, as its name implies, is an expert in oats. It sells oat milk and a range of oat-milk-based foods such as ice cream, yogurt, and other beverages. Its main markets are Europe, the United States, and China.
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