16 Oct blackstone oatly
He established the firm in 1985 with the former chairman of Lehman Brothers and US Secretary of Commerce Peter G. Peterson. Can Burger King's meat-free burger attract the climate conscious? The company did not build this highway, nor are they paving it,” Blackstone said. At $BX, there’s no “one-size-fits-all” approach to working with portfolio companies. {{#media.focal_point}}. The original Twitter thread’s creator, activist Laura Young, wrote: “I don’t want my money going to the destruction of the planet, and putting peoples lives and land at risk just so that I can have a creamy coffee in the morning!”, Oatly responded to that thread, offering: “We’re sorry to hear you’re frustrated in our choice – we’re still the same company with sustainability at the core of everything we do. A spokesperson for the company told HITC: “These are completely false allegations without any foundation. Blackstone’s partnership with Oatly . The article suggested that Blackstone part-owned a road (BR-163) and that the road was used to “facilitate the cultivation and export of grain and soybeans” from the Amazon.
“Hidrovias does not own, control or have any interest — direct or indirect — in the road in question (BR-163).
The company currently sells its plant-based products in 20 countries.
An investor deal which valued Oatly at nearly $2bn is coming under scrutiny. Oatly is one of the most popular vegan companies on the market which has grown a lot over the last few years, offering a range of ice cream flavours, spreads, oat-based yoghurts and canned drinks. Blackstone has denied the accusation, saying in a statement: “The erroneous claims and mischaracterizations were blatantly wrong and irresponsible.”. Oatly's backing from Blackstone has angered some and likely left more feeling a little uncomfortable but it is the kind of investment the plant-based movement – and, by … Wells Fargo Fires More Than 100 Workers for Abusing U.S. Aid, Stocks Fall as Stimulus Hopes Fade, Banks Slump: Markets Wrap, J&J Halts Covid-19 Vaccine Trial Due to Unexplained Illness, Tokyo’s Internet Jesus Uses Secret Creed to Command 101 CEOs, BTS Band Members Make Millions as Big Hit Shares Surge in IPO. Swedish oat-milk maker Oatly AB secured $200 million in new capital from an investment group led by Blackstone and a group of celebrities. In a press release in July this year, Blackstone announced that it had invested $200 million (£150 million) in Oatly as a “major step in funding sustainable, society-altering companies”. Oatly has now been placed in the position of defending the deal. It’s us, Oatly, the original Swedish oat drink company. Founded in the 1990s by brothers Rickard and Björn Öste, Oatly entered the US market four years ago. The Swedish plant-based milk brand faced ‘cancellation’ by customers on Twitter after the company was accused of contributing to “deforestation in the Amazon rainforest”. “The erroneous claims and mischaracterizations were blatantly wrong and irresponsible.”. Oatly responded with an open letter defending the deal. Last year sales doubled over 2018 to about $200m. Photographer: Carsten Snejbjerg/Bloomberg. Notwithstanding that accusation, Blackstone’s Schwartzman has been a prominent Wall Street supporter of Donald Trump. Social media users react to Trump having Covid! According to Bloomberg, the billionaire investor has donated $3m to Super Pac America First Nation, which supports the president’s re-election. Have a confidential tip for our reporters? It expects to have similar growth this year, according to reports, and plans to use the investment to more widely distribute its oat-based yogurt, spreads, on-the-go drinks and ice cream. The company added: “It also steers capital that would’ve otherwise gone into another commercial investment into sustainability instead, making their investments greener.”, But that has yet to placate critics. The private equity firm that now has a stake in Oatly has been accused of contributing to deforestation in the Amazon, First published on Tue 1 Sep 2020 22.54 BST. Twitter: What is the Schadenfreude Meme? On Tuesday, the company reiterated its position that Hidrovias was not involved in a road through the Amazon rainforest used to transport soy grown on illegally deforested land and had won awards for its sustainability efforts. Vegan milk brand Oatly is facing protests by climate and political activists who say the decision to sell a stake in the company to a consortium that includes Blackstone, a … Which includes who we choose as owners, as we need to move global capital in a sustainable direction if we’re to see real change.”, The company added: “If we just shut out the companies that may make less sustainable choices, we won’t give them the chance to improve and make more sustainable choices, so global capital will keep being steered in a less sustainable direction.”. Meanwhile, $76 billion has been invested in hedge fund solutions and $138 billion in credit and insurance. Oat milk’s popularity is soaring – sales in US stores grew nearly 300% year-over-year to June, according to Nielsen data. In a statement in September last year, Blackstone denied the claims and said: “In late August, Blackstone and a Brazilian company we’re invested in, Hidrovias, were falsely accused of being responsible for the deforestation of the Amazon through the development of an industrial road.
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