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Oatly takes plant-milk mainstream with $10b IPOINTL

Oatly takes plant-milk mainstream with $10b IPO

Sweden’s Oatly has been turning oat into a dairy-free milk alternative since the 1990s. Now, the company wants to publicly list its shares on the US stock market. According to sources familiar with the matter, Oatly is working with advisors on an IPO that could come as soon as this May and would value that company at around $10b. Yes, you read that figure correctly! Even we had to check that number before publishing.

Oatly even managed to snag a deal with Starbucks, which has gotten its product in front of consumers from New York to Shanghai. Their oat milk trumps other grain and nut-based drinks due to its frothing qualities, making it especially popular with the average latte drinker, and not just millennials, hippies, and lactose-intolerant people.

Oatly has had no issue attracting investors, either. Last year, the company secured around $200m from big-name institutional investors like Blackstone Group and celebrities like Oprah Winfrey and Jay-Z. Guess their big payday is coming up soon!

why it matters
Meat and dairy alternatives are becoming increasingly mainstream as the plant-based food trend continues globally. Shares of Beyond Meat (BYND), to name an example, have risen more than 500% since going public in 2019. Could Oatly's IPO permanently put cows out of business?