Oatly grows bigger
POSTED: July 21, 2020
Oatly has always presented itself as the outsider: the rebel at the back of the class that obeys no rules but its own. You can see this in the presentations that John Schoolcraft has made at Slush and elsewhere.
Now, however, they have completed their second round of investment, and they have become a “proper company” with major outside investors.
Oatly, the Swedish company credited with convincing the masses of oat milk’s merit, has proven its value to the investment world as well.
The firm on Tuesday said a group including investment giant Blackstone Group and celebrities Oprah Winfrey, Jay-Z and Natalie Portman bought a stake in the company for $200m (£160m).
The move is a sign of growing interest in milk made with plant alternatives.
Oatly said the money would be used to expand and build new production plants.
Founded in the 1990s, Oatly entered the US market four years ago and the product proved so popular it created shortages.
Oatly announced its first factory in the US in 2018 and plans to open a second this year, part of a wider effort to add plants close to its customers. The firm’s products are available at 50,000 locations across 20 countries.
“We chose to partner with Blackstone Group because of their tremendous resources and unique reach,” said chief executive Toni Petersson. “Our new partners’ commitment to supporting us and furthering our mission is a clear indication of where the world is heading, which is in a new, more sustainable direction.”
Toni Peterssen clearly believes that the world has changed to meet Oatly, and not the other way round. I really hope that this proves true.