An advert for plant-based milk firm Oatly on the facet of Barcelona’s Trambaix gentle rail public transportation.
Jeff Greenberg | Common Photographs Group | Getty Photographs
Sweden-based Oatly, which counts Oprah Winfrey and rapper Jay-Z amongst its distinguished backers, has submitted plans for an preliminary public providing to regulators, the maker of vegan food and drinks merchandise stated on Tuesday.
The deliberate inventory market itemizing comes because the plant-based meals sector has gained investor consideration over the previous few years, particularly as fast-food chains and upscale eating places create new menus to draw health- and environment-conscious diners.
Oatly, recognized for its oat milk merchandise, has tie-ups with a number of cafes in america, together with Starbucks and likewise sells its merchandise on-line and in retail shops.
A lot of the demand for plant-based meals is being led by millennials and technology Z shoppers, who’re greater than prepared to spend on sustainable merchandise which can be additionally wholesome.
Oatly raised a $200 million fairness funding in July final 12 months from a bunch led by Blackstone that features Oprah Winfrey, Natalie Portman and former Starbucks chief Howard Schultz.
The brand new buyers additionally included Jay-Z’s leisure firm Roc Nation, Orkila Capital and Rabobank’s Rabo Company Investments.
Oatly, based by brothers Rickard and Björn Öste, was valued at about $2 billion in July, in accordance with PitchBook.
The corporate, whose Oatly model is obtainable in additional than 20 international locations all through Europe and Asia, could possibly be valued at about $10 billion in its IPO, Bloomberg Information reported earlier this month, citing folks conversant in the matter.