Oatly to raise $200 million in equity investment led by Blackstone Growth

Netherlands Sweden United States Investments 14 July 2020
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Oatly, a Malmö, Sweden-based food company, announced getting into a $200 million investment agreement.

The deal was led by Blackstone Growth and included additional funding from private investors Oprah Winfrey, Roc Nation, Natalie Portman, former Starbucks Chairman and CEO Howard Schultz, Orkila Capital, and Rabo Corporate Investments, the investment arm of Rabobank.

The deal was made for a roughly 10% equity stake, putting the company at a value of about $2 billion, which is 10x the revenues recorded in 2019.

The new investors will join as minority shareholders the existing partners, including Verlinvest-CR JV and the company’s founders. As part of this transaction, Oatly’s founders will also be reinvesting in the company’s growth by providing additional capital.

Oatly, founded in 1990 based on research from Lund University and led by CEO Toni Petersson, offers a broad range of nutritious and sustainable oat-based products which utilize a patented enzyme technology that copies nature’s own process and turns fiber-rich oats into nutritional liquid food designed specifically for humans.

Oatly currently employs 550 people throughout Europe, North America and Asia with global headquarters in Malmö, Sweden and regional offices in New York, London, Berlin, Amsterdam, Helsinki, Shanghai and Hong Kong.

Prior to this deal, in 2019, the company raised $40 million from existing investors via a Cyprus-based investment company named Nativus. In 2016, the company was taken over by strategic investors Verlinvest and China Resources, through a newly formed joint venture company.