In July 2020, a private equity firm called the Blackstone Group bought 10 percent of the plant-based company for $200 million, according to Financial Times. Oatly sold Blackstone a stake in the company in hopes of expanding production, and eventually going public in the stock market. Blackstone's ideologies, however, don't exactly align with that of Oatly's or its customer base, which is why consumers are extremely disappointed.
In September 2019, the Blackstone Group invested in a Brazilian infrastructure company that happens to be responsible for massive amounts of deforestation in the Amazon rainforest, according to Private Equity Stakeholder. Not only is deforestation is a massive global warming contributor, but also record numbers of man-made forest fires tore through the Amazon in 2019, and infrastructure companies were largely to blame, thus holding them partially responsible.
Blackstone is also notoriously pro-Trump. The company's CEO, Steve Schwarzman, apparently donated $3 million to Trump's super PAC, America First Nation, according to CNBC. He is also considered to be a confidant of the president, so it comes as no surprise that he also hired a pro-Trump lobbyist earlier this year named David Urban. Yikes.
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September 01, 2020 at 04:42AM
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Oatly's Latest Controversy Has Led Consumers to Seek Out New Brands - Green Matters
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