MALMO, SWEDEN – Blackstone Growth, a fund managed by the investment firm Blackstone, and other investors such as former Starbucks chief executive officer Howard Schultz and Oprah Winfrey, have invested $200 million in Oatly, the maker of oat-based products. The capital will be used to expand the company’s manufacturing capacity in Asia, Europe and the United States.
“Leaders in asset management like Blackstone play an essential role in order to create real sustainable change,” said Toni Petersson, CEO of Oatly. “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.”
Oatly was founded in Sweden in 1990. The company employs 550, is headquartered in Malmo and has regional offices in New York, London, Berlin, Amsterdam, Helsinki, Shanghai and Hong Kong.
“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,” said Jon Korngold, global head of Blackstone Growth. “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.”
Other investors involved in the transaction include Orkila Capital, Rabo Corporate Investments, the investment arm of Rabobank, Roc Nation and the actress Natalie Portman.