Oatly Group AB has formally filed paperwork Monday for an initial public offering in the U.S., nine months after private-equity giant Blackstone Group Inc. and a handful high-profile celebrities took a stake in the oat milk producer.
The Malmö, Sweden-based company entered the U.S. market in 2017 with its alternative dairy products that have grown in popularity among consumers seeking healthier options with less impact on the environment.
Last July, The Wall Street Journal reported the company had sold a $200 million stake to a group led by Blackstone
BX,
The retail value of the plant-based dairy industry in the Americas is expected to hit $7 billion by 2025, according to Euromonitor.
An expanded version of this report appears on WSJ.com.
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