Original title: frontline | Oat milk brand "Oatly" raised 200 million US dollars to go public, Blackstone Group Inc shot, Starbucks Corp former CEO Schultz participated source: 36Kr Holdings
36Kr Holdings learned that Swedish plant food and beverage brands.Oatly"sell a minority stake for $200 million.The financing round was led by investment firm Blackstone Group Inc, and celebrity investors included Starbucks Corp's former chairman and chief executive, Howard Schultz, famous host Oprah Winfrey, actress Natalie Portman and Roc Nation, an entertainment organization founded by Jay-Z.
"Oatly "officially declared that the main purpose of this round of financing is to achieve a new round of business expansion. But the news shows that this round of financing is likely to be prepared for its IPO. According to an internal document in February, the company is considering working with Goldman Sachs Group to advance the IPO process, which will be listed in London or New York.
Founded in 1994, Oatly's current products include oatmeal beverages, oatmeal and ice cream, and are now sold in more than 50000 locations in 20 countries.WorkOatmeal milk represents the brand, "Oatly" in the promotion of the new market is clear: that is, to adopt the combination of toB and toC.
On the one hand, in terms of brand promotion, "Oatly" strives to create its own leading image of "healthy and fashionable" plant milk, adapts to the latest wave of healthy diet and vegetarianism, and stimulates the consumption enthusiasm of environmentalists and healthy lifestyle advocates around the world.
On the other hand, in the brand promotion channel, "Oatly" relies on the model of "BToBToC": brands often choose to put "coffee master" products on the shelves of small or chain coffee shops in the new market, rely on the huge coffee market and valued coffee customers to open the market awareness, and then enter Shang Chao for sales.
The model has been successfully tested in the US market: in the two years since it entered a number of boutique cafes in the US (2017-2018), the company's revenue has grown from $1.5 million to more than $15 million. The number of outlets has soared from 10 to 2500 coffee shops and 1500 grocery stores.
After a massive push into China, the "largest milk importer", "Oatly" officials announced that Starbucks Corp was stationed in April 2020 to offer a new plant-based food and beverage lunch menu in his stores across China, which is by far Oatly's largest partnership in Asia, and is expected to bring a bigger sales jump to "Oatly" this year.
"Oatly" brand products: including oatmeal beverages, oatmeal and ice cream
At the plant milk track, startups that enter the market earlier have an outstanding advantage. Under PepsiCo Inc (PepsiCo) Quaker in early 2019Stop itAfter launching the oatmeal drink line for only one year, the plant milk track has officially become a dance floor for startups.Other star startups worth watching in the current market include oatmeal milk company Califia Farms and pea milk company Ripple Food, which has raised more than $225 million from Qatar Investment Authority, Singapore's sovereign wealth fund and Temasek, valuing it at more than $800m.
Plant milk and plant meat are two core topics in the discussion of plant-based markets, with the former starting earlier and the latter gaining momentum.In the North American market, plant-based milk sales account for 13% of the entire milk category, with a household penetration rate of 41%.
According to Data Bridge, dairy substitutes will continue to grow at a compound annual growth rate of 9.2% by 2025. Although vegetable meat accounts for only 2% of the entire meat category, its market segment sales grew by 10% year-on-year between 2018 and 2019, which is expected to engulf the $270 billion u.s. meat market.
Some investment bankers pointed out that more growth opportunities mean stronger valuations and market expectations, which is also an important reason why "Beyond Meat" can quickly go public as a "plant-based first stock" and bear high valuations.
Beyond Meat shares soared to a record high on the opening day, setting a record for the largest IPO offering in the United States since 2000
As the next listed company visible in the plant-based market, "Oatly" will also match its listing expectations to "Beyond Meat":The latter, which listed on NASDAQ in new York in July 2019, rose 163% at the end of its first trading day and now has a market capitalization of more than $7 billion. Blackstone Group Inc, the leader in the introduction of "Oatly", is also an important investor of "Beyond Meat".
The industry is highly optimistic about the listing of Oatly. As a company with global market share, "Otaly" is far better than "Beyond Meat" in market layout, which only owns the US market when it goes public. In terms of size, Oatly already had twice as much revenue as Beyond Meat in 2019, reported earnings of $200m and plans to double by 2021, while Mergermarket sources say Otaly has achieved triple-digit annual growth for three consecutive years.