Oat milk maker Oatly raises $200 million from Oprah, Howard Schultz, among others

(Reuters) - Plant-based milk maker Oatly said on Tuesday it raised a $200 million equity investment from a group led by Blackstone Group Inc that includes celebrities Oprah Winfrey, Natalie Portman and former Starbucks Corp chief Howard Schultz. The new investors, also including rapper Jay-Z's entertainment company Roc Nation, Orkila Capital and Rabobank's Rabo Corporate Investments, will join the company's existing partners and its founders - brothers Rickard and Björn Öste - who will also reinvest with additional capital. The plant-based food sector is a fast growing category that has gained investors' attention over the past few years, especially as fast-food chains and upscale restaurants create new menus to attract health- and environment-conscious diners

Reuters July 15, 2020 00:07:05 IST
Oat milk maker Oatly raises $200 million from Oprah, Howard Schultz, among others

Oat milk maker Oatly raises 200 million from Oprah Howard Schultz among others

(Reuters) - Plant-based milk maker Oatly said on Tuesday it raised a $200 million equity investment from a group led by Blackstone Group Inc that includes celebrities Oprah Winfrey, Natalie Portman and former Starbucks Corp chief Howard Schultz.

The new investors, also including rapper Jay-Z's entertainment company Roc Nation, Orkila Capital and Rabobank's Rabo Corporate Investments, will join the company's existing partners and its founders - brothers Rickard and Björn Öste - who will also reinvest with additional capital.

The plant-based food sector is a fast growing category that has gained investors' attention over the past few years, especially as fast-food chains and upscale restaurants create new menus to attract health- and environment-conscious diners.

Sweden-based Oatly, known for its oat milk products, has tie-ups with several cafes in the United States, including Starbucks, to make plant-based coffee and tea, and also sells its products online and in retail stores.

Much of the demand for plant-based food is being led by millennials and generation Z consumers, who are more than willing to spend on sustainable products that are also healthy.

Oatly said the proceeds from the latest investment will be used to fund its expansion projects in current markets and to set up new production plants and create jobs in Europe, the United States and Asia.

Earlier this year, California-based almond milk maker Califia Farms also raised investments worth quarter of a billion dollars, underscoring a huge interest in the plant-based food sector.

(Reporting by Nivedita Balu in Bengaluru; Editing by Shinjini Ganguli)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

France, Germany to agree to NATO role against Islamic State - sources
| Reuters
World

France, Germany to agree to NATO role against Islamic State - sources | Reuters

By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States

China's Xi says navy should become world class
| Reuters
World

China's Xi says navy should become world class | Reuters

BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.