Oatly, Vegan-Foods Business Backed by Jay-Z and Oprah, Mulls IPO
Sweden’s Oatly, a vegan-foods and drink producer backed by Oprah Winfrey and Jay-Z, is thinking about an first public featuring, hoping to benefit the enterprise at $10 billion, a media report suggests.
A offer could transpire as shortly as May, knowledgeable sources explained to Bloomberg.
It would be a U.S. listing, though Oatly was beforehand seeking at Hong Kong, also.
The company last year had a $200 million expenditure spherical that involved Blackstone Group (BX) – Get Report in addition to Oprah and Jay-Z, Bloomberg studies.
Oatly was founded in the 1990s by brothers Rickard and Bjorn Oste.
“Oatly oat milk is a vegan, plant-based milk choice manufactured from gluten-no cost oats,” the corporation claims on its internet site. “It’s very very simple genuinely. Our oat foundation is just oats and h2o. But it is what we do with those oats and that h2o that helps make Oatly so particular.”
More, “for our U.S. goods, we resource significant-quality, gluten-cost-free oats from farms throughout the U.S. and Canada that are dedicated to the greatest values of sustainability and renewable farming,” Oatly explained.
“Right now, we make and package deal our goods in New Jersey, Minnesota and Connecticut in the U.S., and in Quebec, Ontario and British Columbia in Canada. We’re in the process of working on some new amenities as very well.”
One of the greatest publicly traded pure-food stuff organizations is Hain Celestial (HAIN) – Get Report.
It “has struggled with powerful aggressive pressures and its own executional missteps,” Morningstar analyst Rebecca Scheuneman wrote last thirty day period.
But “we imagine Hain’s strategy to turnaround the company is starting up to bear fruit,” she claimed.
Scheuneman pegs reasonable worth for Hain at $31. The shares have been trading at last look at down .8% at $41.10.
