Swedish brand Oatly—maker of popular oat-based milks and other dairy alternatives—may be the next vegan publicly traded company. In a recent interview with Press Association, Oatly Chief Executive Toni Petterson explained that he is not interested in selling the company to a larger entity but would consider other exit strategies should the brand continue to expand. “We’re not part of any structure. I think that’s obviously the preferred way,” Petterson said. “We could potentially even IPO, if it gets that big.” As demand for Oatly’s core products rises worldwide, the company is quickly expanding its production capacity beyond its two factories in the Netherlands and New Jersey. This year, Oatly aims to open a third production facility, likely in the United Kingdom, to resolve shortages of its vegan products in the region. Next year, Oatly aims to expand production with two more facilities, one in Utah and another in Singapore. On May 2, Beyond Meat debuted its IPO on NASDAQ prompting other vegan brands to consider going public as an attractive financing event, including California startup JUST—maker of mung bean-based vegan egg replacer JUST Egg.

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