SunOpta is a Best Idea Long. As a leading supplier of plant-based milk the company's growth engine is the underlying secular growth in demand for the category. Within the growth of plant-based milk, oat milk is gaining share. With oat milk's clean label, simple ingredients, superior mixing in coffee, and broadly appealing taste profile we expect it to be the #1 plant-based milk. SunOpta produces a variety of plant-based milk products, but oat milk's supply constraints and growing demand provide capacity investment opportunities.
We examined the drivers, outlined where the risks and opportunities are, and vetted various outcomes. We made our case for why the shares can double from here.
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Our investment themes are:
