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Fresh off its $1.4 billion initial public offering on the Nasdaq stock exchange earlier this year, Oatly has announced plans for its third U.S. factory.
The world’s largest oat milk producer said August 11 that it will build a 280,000-square-foot plant in Fort Worth, Texas, that will make the company’s array of oat milks. The company says the factory will begin operations in 2023 and add 100 jobs.
According to Sweden-based Oatly, its new factory will make about 150 million liters of oat milk per year — making it the largest of its three U.S. plants — and it’s being built with room for expansion.
The company’s current U.S. plants are in Millville, New Jersey, and Ogden, Utah. Fort Worth will be Oatly’s ninth production facility worldwide.
An investment amount for the new factory was not given.
“We’re excited to break ground on this factory in Fort Worth, which we believe will allow us to meet the growing demand for Oatly’s products and grow our positive impact on the planet,” Oatly North America President Mike Messersmith said.
According to data from Nielsen, supermarket sales of oat milk doubled in 2020 to $249 million — the highest year-over-year growth rate of all grocery categories.
Image Credit: Tada Images / Shutterstock.com
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