Leading Oat Milk Brand Oatly Worth Around $2 Billion, as Oprah and Jay-Z Among New Investors
The hugely popular company is set to open its second U.S. factory this year, aiming to double its sales to $400 million by next year.
Credit: Joella Marano
A group of investors including Oprah Winfrey, Natalie Portman, and Jay-Z’s Roc Nation, have bought a 10% stake in the oat milk company Oatly, worth $200 million.
The huge investment means that the company is now estimated to be worth around $2 billion.
Oatly only came to the US market four years ago, and opened its first production plant in 2018.
Now, the latest investment will allow the Swedish company to build a second production plant in the US, with the aim of doubling the $200 million made in sales last year.
Oatly’s success reflects the rise in consumers choosing more sustainable and ethical food, as oat milk sales alone surged by 600% in 2019.
In contrast, the dairy industry continues to suffer declining sales amid concerns over its environmental impact and treatment of animals. With supply bottlenecks and falling consumer demand, US dairy farmers have been dumping 3 million gallons of cow’s milk every day during the pandemic.
Commenting on Oatly’s future, its CEO Toni Petersson says, “I understand that it may sound naive to actually believe Oatly can change the world – that the impact of what we do can inspire others to make changes that will lead to a global behavioural shift among consumers – but that’s fine.”
Looking to find your favorite plant-based milk? Check out our guide to the tastiest non-dairy milks.
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