Oatly tight-lipped as IPO speculation resurfaces - Just Food
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Oatly tight-lipped as IPO speculation resurfaces

11 Jan 2021

Oatly, the Sweden-based dairy-free business, is reportedly eyeing a fund raising exercise, according to media sources.

Oatly tight-lipped as IPO speculation resurfaces
Oatly – IPO details emerge

Oatly has declined to comment on speculation the Sweden-based dairy-free business is considering an initial public share offering following similar murmurings that surfaced last year.

A spokesperson for the dairy-alternatives manufacturer told just-food the company does not comment on “market rumours” after the CNBC news channel, quoting unnamed sources, reported Oatly was planning an IPO with the potential to raise US$1bn. It offered the same response last September when reports emerged over a possible share offer.

Oatly sold an undisclosed minority stake during the summer to a group of investors that included US private-equity firm Blackstone Group and celebrity Oprah Winfrey for $200m, saying it would use the cash to fund expansion. Also taking part, were rapper Jay-Z’s entertainment company Roc Nation, actress Natalie Portman, the former Starbucks chairman Howard Schultz and Rabo Corporate Investments, the investment arm of Rabobank. 

They joined existing investors Belgium-based private-equity firm Verlinvest, and the company’s founders.

Oatly, headquartered in Malmo, manufactures a range of oat-based products such as drinks, yogurts, spreads, cream, custard and ice cream sold in Europe, including the UK, the US, Asia and Australia.