An advert for plant-based milk company Oatly on the aspect of Barcelona’s Trambaix mild rail public transportation.
Jeff Greenberg | Universal Images Group | Getty Images
Sweden-based Oatly, which counts Oprah Winfrey and rapper Jay-Z amongst its outstanding backers, has submitted plans for an preliminary public providing to regulators, the maker of vegan foods and drinks merchandise mentioned 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, identified for its oat milk merchandise, has tie-ups with a number of cafes within the United States, together with Starbucks and likewise sells its merchandise on-line and in retail shops.
Much of the demand for plant-based meals is being led by millennials and era Z shoppers, who’re greater than keen to spend on sustainable merchandise which are 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 new buyers additionally included Jay-Z’s leisure company Roc Nation, Orkila Capital and Rabobank’s Rabo Corporate Investments.
Oatly, based by brothers Rickard and Björn Öste, was valued at about $2 billion in July, in response to PitchBook.
The company, whose Oatly model is obtainable in additional than 20 nations all through Europe and Asia, might be valued at about $10 billion in its IPO, Bloomberg News reported earlier this month, citing individuals acquainted with the matter.