Oatly scores $2 billion valuation and backing from Blackstone, Oprah, and Natalie Portman, WSJ says
Oatlyhas secured $200 million in investment from Blackstone, OprahWinfrey, Natalie Portman, ex-Starbucks CEO Howard Schultz, and Jay-Z's Roc Nation, The Wall Street Journal reported on Tuesday.
- The Swedish oat-milk maker sold around 10% of its business in a funding round that valued the company at about $2 billion, The Journal said.
- Oatly intends to use the funds to expand its supply network, sell a wider range of oat-based products in more locations, and possibly go public in the next 12 to 18 months.
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Oatly has sold a $200 million stake in its business to investors including Blackstone, Oprah Winfrey, Natalie Portman, former Starbucks CEO Howard Schultz, and Jay-Z's Roc Nation, The Wall Street Journal reported on Tuesday.
The investment round values the Swedish oat-milk maker at about $2 billion, The Journal said, citing people familiar with the matter. Oatly may use the funds as a launchpad to go public in the next 12 to 18 months, the newspaper reported.
"We chose to partner with Blackstone Growth because of their tremendous resources and unique reach," Oatly CEO Toni Petersson said in a statement, referring to the private-equity giant's growth unit.
"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."
Blackstone was the lead investor, meaning it will join Belgium-based Verlinvest and state-owned China Resources as some of Oatly's key backers.
"We have Asian owners and European owners and wanted to bring US owners into the company, too," Petersson told The Journal.
Oatly approximately doubled its sales to $200 million last year, and expects a similar rate of growth this year, sources told The Journal. However, it has posted losses in the past few years due to growth investments, they added.
The company intends to use the latest cash injection to extend its supply networks in northern Europe, the US, and China, The Journal reported.
It also plans to offer more of its oat-based products — including vegan versions of yoghurt, crème fraîche, and ice cream — in a wider array of locations, the newspaper said.
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