Vegan milk firm Oatly raises $200m from investor group including Oprah Winfrey and Howard Schultz
Vegan milk producer Oatly has raised $200m from a group of investors led by Blackstone, including Oprah Winfrey, actress Natalie Portman and former Starbucks boss Howard Schultz.
The investment round, which was also backed by Jay Z’s Rocnation, will be used to fund the company’s growth plans, which include expansion in current markets and new production plants in Europe, the US and Asia.
The new investors, which also includes Orkila Capital and Rabobank’s Rabo Corporate Investments, will join the existing partners and founders Rickard and Bjorn Oste.
Oatly’s founders, which launched the company in Sweden in the 1990s, will also reinvest additional capital.
Demand for sustainable food and plant-based products has been growing, with the shift being led by Millennials and Generation Z.
Oatly chief executive Toni Petersson said: “It is my belief that capital has to turn green and do so for the right reasons.
“Since we re-launched our brand in 2013, our focus has been to positively impact society by enabling people to change their lives with better, more environmentally responsible food choices, and in so doing, re-shape the food system to better contribute to the future of the planet.
“We chose to partner with Blackstone Growth because of their tremendous resources and unique reach.
“Our new partners’ commitment to supporting us and furthering of our mission is a clear indication of where the world is heading, which is in a new, more sustainable direction.”