Verlinvest, the investment firm belonging to the families De Mévius and De Spoelberch (owning worldwide beer giants AB InBev), have bought Swedish manufacturer of lactose-free products Oatly. To that end, it has struck a deal with Chinese beer manufacturer Snow.
Growth in China and US
Oatly's turnover last year reached 40 million euro, up a third from the year before. It expects another strong surge this year, up to 51 million euro. It is not clear how much CR Verlinvest (the joint venture between Verlinvest and Snow's owner China Resources) paid for a 70 to 90 % stake, but allegedly it surpasses 90 million euro.
Oatly sells its products in about 20 countries, across Europe and Asia, competing with the likes of Alpro. Thanks to CR Verlinvest's investment, the company is able to continue its growth in Asia and the United States. Verlinvest has plenty of assets in the United States, while Snow's parent company (China Resources) has a strong presence in China. Previously, the joint venture had already invested in Red Sun, a Chinese nursing home and care center manager.