after an initial public offering that raised $1.4 billion for the Swedish consumer brand. Despite a selloff in U.S. equities that has persisted through the week, the company says the timing for its public listing couldn’t be better.
Speaking in the hours before the listing, Petersson said Oatly this spring opened a state-of-the-art production facility in Utah and doubled capacity at its plant in Holland, with plants in Singapore and China being prepped to open before year-end. The new facilities are aimed at overcoming supply problems that have had grocers struggling to keep its ice cream pints and milk cartons stocked on shelves.
According to Nielsen, sales of oat milk in the U.S. grew by more than 200% year-over-year from 2019 to 2020. The category reached $267 million in retail sales in 2020, rising to the second-largest dairy alternative behind almond milk. Oatly has around half the distribution of its competitors but is the highest-selling oat milk brand by retail sales value in U.S. grocery stores, according to Nielsen.
Oatly’s single-largest shareholder is a joint venture between Verlinvest, the family office for one of the Belgian families behind AB-InBev, and the Chinese government. The joint venture’s 46% stake is now worth $5 billion — which helps to explain why Oatly is sold in 11,000 coffee and tea shops, 6,000 retailers and almost 5,000 Starbucks locations in Asia and has been considering a second listing in China.
chloesorvino Ewww, no thanks.
chloesorvino If my favourite oat drink gets shorted into oblivion ima be pissed
chloesorvino hurp acts 123
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