Oat drink manufacturer Oatly is worth 1.75 billion
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The Swedish company Oatly has increased its value to about 1.75 billion euros by selling a shareholding. The deal was struck by an investment company and several US celebrities.
Oatly sold a 200 million US dollar (175 million euro) stake to the investment company Blackstone and several US celebrities. According to the Wall Street Journal, the investment represents about a ten percent share and gives the company a 1.75-billion-euro value.
With a volume of 545 billion US dollars, the Blackstone Group is one of the largest investment companies in the world. Its subsidiary, Blackstone Growth managed the participation with the Swedish oat drink manufacturer and the 200-million-dollar investment for the group of investors. Parties involved include the Rabobank, former Starbucks boss Howard Schultz and US celebrities such as talk show host Oprah Winfrey, actress Natalie Portman and rapper Jay Z. According to the Wall Street Journal, the investment represents about a ten percent share and gives the company a value of 1.75 billion euros.
Oatly CEO Toni Petersson said: "We chose to partner with Blackstone Growth because of the company's vast resources and unique reach. He said he is convinced "that capital must go green." Blackstone's commitment, he said, is "a clear indication of where the world is heading, in a new, more sustainable direction".
Jon Korngold, head of Blackstone Growth, praised Oatly as a "premium global brand whose product is committed to a healthy and sustainable lifestyle, with a significant platform for continued growth to meet increasing consumer demand. He said they were committed to helping the company build on its global leadership position in the years ahead.
According to Oatly their products are now available in more than 20 countries in Europe, Asia and North America. The company was taken over in 2016 by a joint venture between the Belgian food investor Verlinvest and the Chinese state-owned company China Resources. According to the Financial Times, it had a revenue of around 200 million US dollars in 2019 and expects to double this in 2020.