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Oatly AB, the Swedish processor of oat-based milk and other nondairy products, has received a new round of funding powered by celebrities.
Private equity firm Blackstone Group has raised $200 million for a 10% share in Oatly, which was founded in Sweden in the 1990s and came to the U.S. about four years ago. Investors include Oprah Winfrey, Natalie Portman, Starbucks CEO Howard Schultz, and an entertainment company founded by rapper Jay-Z. The deal paves the way for either an initial public offering or acquisition by a larger food company.
Interest in nondairy milk has peaked during the pandemic, with oat milk sales nearly quadrupling year-over-year for the 16-week period ending June 20. In addition to milk, Oatly produces oat-based yogurt, spreads and ice cream.
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