After the recent announcement of Oatly’s upcoming IPO which is set at $10 billion, the Swedish alt dairy giant today announces the launch of its first UK factory, expected to open in Q1 of 2023, which it says will have sustainability at heart and produce over 300 million litres of oat drink per year. The new facility will be located in Peterborough and provise at least 200 new jobs to the region.
Oats will be sourced locally across the UK and the factory will supply the UK market. The company reveals that the facility “will continue Oatly’s drive to create a systemic shift in society and the food system towards plant-based” and is part of a wider initiative to to establish sustainably focused production facilities which are “fit for the future”.
With the demand for oat drinks continuing to rise, this factory is set to produce 300 million litres of oat drink per year at launch, with the capacity to grow to 450 million litres – making it one of the largest plant-based dairy factories in the world. The idea is that this increased capacity offers consumers the chance to make purchasing choices which are beneficial to the climate; according to climate footprint data, Oatly Barista Edition sold in the UK generates about 70% less CO2e than British cow’s milk.
Ishen Paran, General Manager at Oatly UK said, “Questions about a potential UK factory have been circulating for a while, and we’re really excited to finally announce the news of its arrival in 2023. The UK is a really important driver of the global plant-based movement, with growing demand for Oatly across the country, and we’re excited to supply this increased demand.”
Lord Gerry Grimstone, Minister for Investment: “It’s fantastic that Oatly has announced plans to open its first UK factory in Peterborough, creating 200 jobs and helping to boost the economy. The UK is a leading destination for overseas investment and this is exactly the kind of investment we want to encourage as we look to build back better and greener from this pandemic.”