Oatly has been active on Twitter, too, responding to its unhappy customers. "We want to create real, long-term change in areas where change is needed. By partnering with one of the world's largest private equity firms, we have an opportunity to shift money that may have gone towards a different type of investment directly towards a sustainable investment," Oatly tweeted. Blackstone's aim doesn't appear to be good or evil. The firm's motivation is profit. "Oatly is one of those companies that does well by doing good," Jon Korngold, Blackstone's head of growth investments, told TechCrunch. In its own statement about its partnership with Oatly, Blackstone said the oat milk company now will be able to expand globally and achieve its sustainability goals.
Some unlikely partners helped the big equity firm acquire a 10 percent stake in Oatly. Blackstone was joined in the Oatly investment by liberal celebrities Oprah Winfrey, famously vegan Natalie Portman, and Jay-Z's entertainment company (via The Wall Street Journal) "Our new partners' commitment to supporting us and furthering of our mission is a clear indication of where the world is heading, which is in a new, more sustainable direction," Oatly CEO Toni Petersson said in the Blackstone statement (via World Coffee Portal).
It makes sense that Oatly would seek outside help from investors. The company is growing fast, doubling its sales between 2018 and 2019, but has also lost money.
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September 02, 2020 at 01:17AM
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Why Oatly fans are boycotting the oat milk company - Mashed
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