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Oatly

eCommerce & Marketplaces · Malmö kommun, Sweden · Founded 1990 · IPO 2021

Oatly Group AB is a Swedish food company that produces alternatives to dairy products from oats. The company was formed in the 1990s based on research from Lund University by food scientist Rickard Öste and his brother Björn. The parent company, Ceba AB, was officially established on February 17, 1994, and the Oatly brand officially launched in 2001. The company's mission is to make it easy for people to eat better and healthier without recklessly taxing the planet's resources. Oatly's core production process involves milling whole oats with water, using a proprietary enzyme process to naturally sweeten the product, and then refining it into various products. This technology was developed by Rickard Öste at Lund University in the early 1990s. His brother, Björn Öste, who had a background in software, joined to co-found the company and handle the business aspects. Oatly operates a multi-channel distribution model, generating revenue from the global sales of its oat-based products through retail channels like supermarkets and foodservice providers such as coffee shops. The company has employed a 'café-first' strategy, particularly in the U.S. market, to build brand loyalty with baristas before expanding into mass retail. For the full year 2024, Oatly reported total revenue of approximately $823.7 million. Its product portfolio is extensive and includes oat milk, ice cream, yogurt alternatives, cooking creams, spreads, and cold coffee. In early 2024, the company launched Unsweetened and Super Basic oat milk varieties in the US, its first major innovation to the core beverage line in five years. A significant turning point for the company was the appointment of Toni Petersson as CEO in 2012, which led to a major rebranding and a shift toward more aggressive and unconventional marketing. In May 2021, Oatly went public on the Nasdaq stock exchange under the ticker 'OTLY', reaching a valuation of $10 billion. The company is headquartered in Malmö, Sweden, with a production and development center in Landskrona. As of late 2025, Jean-Christophe Flatin serves as CEO, focusing on profitable growth and operational efficiency. Keywords: oat milk, dairy alternatives, plant-based foods, vegan products, food and beverage, sustainability, foodservice, CPG, retail, oat-based products, Barista Edition, alternative milk, food technology, healthy lifestyle, plant-based dairy, non-dairy, oat drink, vegan ice cream, vegan yogurt, sustainable food system