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Oatly Launches Vegan Cream Cheeses as it Prepares for IPO

Sweden’s plant-based milk leader, Oatly, has released its first vegan cream cheese range. The Creamy Oat Spreads will hit the shelves in the UK, as rumours continue to swirl regarding an impending Oatly IPO this year. 

After a rollercoaster 2020 which saw a $200 million investment from Blackstone group – and the resulting consumer boycott controversy – Oatly still went on to become the leading Oat milk brand in its rapidly expanding sector. The brand also released a plant-based yogurt, Oatgurt, invested in green electric delivery for its goods and expanded into Asia with a Singapore launch.

The brand will be kicking off 2021 with the release of three different oat-based ‘cheese’ spreads as well as an oat-based whipping cream. 

Oatly garlic spread

Speculations of a public listing abound, despite telling vegconomist in September 2020, “We don’t comment on rumours as they’re just that – rumours.”  The company, which boasts investors such as Oprah Winfrey, Natalie Portman, and Roc Nation – rapper Jay-Z’s entertainment company, could reportedly raise up to $1 billion. There are also reports that Oatly has been in contact with Morgan Stanley, JP Morgan Chase as well as Credit Suisse to work on the IPO, according to CNBC.

The Creamy Oat Spreads will be available in three different spread flavours: tomato & basil, cucumber and garlic, and plain. A plant-based whipping cream will also be launched under the name Whippable Creamy Oat. The full line will be available for £1.80 in Tesco and selected Sainsbury’s stores. Each new product contains plant-based saturated fat which helps them to perform and taste similar to their dairy counterpart, in addition to being free from trans-fat. 

“This opens up the potential for a variety of new plant-based recipes and meals for our consumers. We’re increasingly looking for ways to give people a great tasting alternative to use throughout the cooking process,” Oatly UK General Manager Ishen Paran said.

Oatly tomato cream cheese

“We want to make it as easy as possible for people to make the plant-based switch without having to sacrifice on taste, or miss out on their favourite meals. By creating new, high quality products that are versatile, we can deliver on our mission to help people consume more plant-based products which are kinder to the planet.” 

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