New York's Blackstone-backed Oatly files for US IPO, aims $5 billion valuation

by   |  VIEW 1359

New York's Blackstone-backed Oatly files for US IPO, aims $5 billion valuation

Blackstone-backed Oatly, the Malmo, Sweden-based food company that produces alternative dairy products from oats, had filed for an IPO (Initial Public Offerings) with US SEC (Securities and Exchange Commission) on Tuesday as the Swedish baker of vegan foods and drink products seemingly looks to capitalize on a high-flying US IPO market that appears to be anchoring at its strongest level in more than half a decade, Oatly said in a statement earlier in the day.

In point of fact, Oatly’s latest move to file for a US IPO came against the backdrop of a fundraising campaign in July 2020, when the Malmo-based maker of plant-based foods had raised a stark upsum of $200 million in a financing round led by the world’s largest alternative asset management company Blackstone Inc, which has a roughly $619 billion worth of assets under its management to-date, while the fundraising campaign had also included a number of deep-pocket fund managers and celebrities likes of Natalie Portman alongside former Starbucks Corp.

Chief Howard Schultz. On top of that, a US public market listing for Oatly comes forth in an inflection point in a global food industry while a growing number of health-conscious consumers have been turning to plant-based foods with a flurry of fast-food chains creating new plant-based menus to address a mass-scale alteration in consumers’ behaviour.

Blackstone-backed Oatly submits plans for a US IPO before Summer break

More importantly, a press agency report published late in the day had quoted banking sources familiar with the move as saying that a US IPO for Oatly, which sells off a wide-ranging alternative to dairy products under its brand name in more than 20 countries such as oat milks, cold coffees, ice creams, yoghurt substitutes, spread and custard alongside cooking creams, could value the company between $5 billion and $10 billion.

Besides, sources had also unveiled that the leading US and Swiss lenders alongside financial services providers such as Morgan Stanley, JPMorgan Chase & Co and Credit Suisse would supervise the flotation.