Comprehensive M&A data with integrated detailed company information
Oatly could pursue IPO: Bloomberg
Posted on Wednesday, 16 September 2020 12:24
Sweden-based Oatly, a producer of vegan food and drink products, is weighing up a possible initial public offering (IPO), people close to the situation told Bloomberg.
According to the sources in the know, the company has been involved in talks about a US listing in the first half of 2021, which could be worth up to USD 5.00 billion.
The people noted Hong Kong may be another possible venue for a flotation.
With that being said, the insiders, who asked to remain anonymous as the matter is confidential, cautioned that no final decision has been made and the business might decide not to pursue an IPO.
Headquartered in Malmö, Oatly makes a range of vegan and dairy-alternative products by turning liquid oats into food and drink.
Its offerings include drinking chocolate, ice cream, coffee and a range of oat-based yoghurts under its Oatgurt brand.
Oatly operates in 20 countries worldwide and produces around 750,000 gallons of oat base from its factory in New Jersey, Bloomberg noted.
In July this year, the company raised USD 200.00 million through a funding round led by private equity firm Blackstone Group, as well as Hollywood actress Natalie Portman and talk show host Oprah Winfrey, among others.
As a result, the transaction valued Oatly at USD 2.00 billion.
When contacted by Bloomberg, representatives for the business and Blackstone declined to comment.
News of Oatly’s possible listing comes during a popular time for vegan and dairy-alternative companies, as consumers move towards plant-based products.
Zephyr, the M&A database published by Bureau van Dijk, shows there have been 1,086 deals targeting food manufacturers announced globally since the beginning of 2020.
Citigroup Global Markets acquired a 5.5 per cent stake in France-based Danone for EUR 2.26 billion in the most valuable of these.
Bumble Bee Foods, Tongwei and International Flavors and Fragrances, among other companies, were also targeted in this sector.
© Zephus Ltd