Oatly is in the news Wednesday after receiving a cash injection of $200 million from a group of investors.
The investment in Oatly is led by BlackStone Growth. Other investors in the Swedish oat-based milk startup include Oprah Winfrey, Roc Nation, Natalie Portman, Howard Schultz, Orkila Capital, and Rabo Corporate Investments.
This investment has these people and organizations taking up minor stakes in the company. The funding provided by this investment will be used by the company to further expand its business.
The Oatly expansion news includes plans for opening more facilities in current markets. That includes creating production plants in Europe, the United States, and Asia. This will create new jobs and the company says it can offer more products to customers with facilities that are closer to them.
Oatly’s products are already available to customers via 50,000 locations spread across 20 countries. Focusing more on these markets should allow the company to grow its business and potentially pull in new customers.
Oatly notes that its main targets are customers in the Millenial and Gen Z age range. It says that these are the customers that are most interested in sustainable food systems offered by plant-based companies like itself.
Jon Korngold, the global head of Blackstone Growth, said this about the Oatly news.
“Oatly is a premier global brand whose product is committed to healthy and sustainable living with significant runway for continued growth to meet rising consumer demand. We are privileged to partner with Toni and the broader Oatly team to help the company extend its global leadership position in the years to come.”
As of this writing, William White did not hold a position in any of the aforementioned securities.