The capital investment represents a 10% stake in the company, Oatly spokeswoman Sara Fletcher told CNN Business on Tuesday. The money will go toward expanding production and distribution capabilities in Europe, the United States, and Asia.
The investment puts Oatly’s valuation at $ 2 billion, according to The Wall Street Journal, which first reported the news. The financial infusion could set the stage for Oatly to go public in the next 12 to 18 months or be acquired, the Journal reported.
Fletcher said reports of a future acquisition or IPO are “just rumors at the moment. We are keeping all options open.”
Sales of oat milk and plant-based dairy products have soared in recent years and accelerated during the Covid-19 pandemic, as consumers stocked up on stable staples.
Multinational companies are also increasing their offerings. Earlier this week, Nestle (NSRGY) and Starbucks (SBUX) announced that Starbucks brand non-dairy oatmeal almond milk creams would be launched nationwide.
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