Oatly Group AB

Oatly Group AB Logo

Website: www.oatly.com

Oatly Group AB is a Swedish food company that produces alternatives to dairy products from oats. Oatly was formed in the 1990s using research from Lund University. Oatly has headquarters in Malmö and a production and development center in Landskrona. Oatly's key markets are Sweden, Germany and the UK, and its products were available in 60,000 retail stores and 32,200 coffee shops around the world as of 31 December 2020. Oatly is available in 11,000 coffee and tea shops in China, and at more than 6,000 retail and specialty shops across the US, including thousands of Starbucks locations.

In 2020, Oatly's sale of a US$200-million stake to investors including the Blackstone Group, which has financed companies driving extensive deforestation in the Amazon, as well as driving road development into the depths of the jungle for export of foodstuffs, angered consumers and led to a backlash against the company. In 2021, Oatly applied to be listed on the Nasdaq as OTLY. When the company set terms for its initial public offering, its potential value was estimated at more than $10 billion. Morgan Stanley, J.P. Morgan and Credit Suisse were the underwriters. OTLY stock was priced at $17 but had its first public trade at $22.12 on the first day (with a Dec. 2022 low of $1.28/share). On July 14, 2021, short seller Spruce Point Capital published a report questioning Oatly's management and sustainability. Spruce Point alleged that Oatly overstated revenue and margins, among other accounting issues, and accused the company of green washing for understating water usage, and for not having a waste-water treatment facility