Feb 23, 2021
Oprah-Backed Drink Maker Oatly Files Confidentially for U.S. IPO
(Bloomberg) -- Oatly AB, the vegan food and drink maker backed by celebrity entrepreneurs Oprah Winfrey and Jay-Z, has confidentially filed for an initial public offering in the U.S.
Malmo, Sweden-based Oatly announced the move in a statement Tuesday. The IPO will take place once the U.S. Securities and Exchange Commission has completed a review process, Oatly said.
The company gave no further details on the size or pricing of the planned share sale. Bloomberg reported this month that Oatly is considering seeking a value of around $10 billion in the listing.
Oatly was founded in the 1990s by brothers Rickard and Bjorn Oste. Using technology based on research from Sweden’s Lund University, the company turns fiber-rich oats into liquid food. Its products continue to attract a following among latte drinkers from New York to Shanghai, thanks to frothing qualities that emulate dairy milk.
Last year, the company raised $200 million in funding from backers including Blackstone Group Inc. and Winfrey. The funding round valued Oatly at roughly $2 billion.
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