Oatly

Fenton Food and Beverage, a company formed by Yahya Abbas, the founder of Toronto-based Ya Ya Foods Corp., has secured a grant to begin building a roughly 100,000 sq. ft. plant-based milk factory in Fenton, Mich.

Building on momentum from its first full year of profitable growth, Oatly says its refreshed growth playbook is “beginning to gain traction” in North America as it leans into a more disciplined operational approach.

Despite a “dynamic operating environment,” Oatly CEO Jean-Christophe Flatin claims the company remains on track to deliver its first full year of profitable growth since going public in 2021.

The Nosh and BevNET team talks cereal struggles, energy drink earnings, up-and-down reports from plant-based industry leaders and Whole Foods’ newest attempt at a smaller footprint store concept.

How does the government create a research-driven, farmer-centric plant-based food industry ecosystem that supports its own growth through consistent supply and demand? That’s the task the The Peas, Legumes, and Nuts Today (PLANT) Act is looking to tackle.

The NOSH team talk about Oatly’s new online marketing campaign, sesame seeds’ new classification as a “Big 9” allergen, Hershey’s acquisition of two Skinny Pop co-packing facilities and an interview with The Coconut Cult’s Ari Raz about manufacturing decisions.

Investment firm Monogram Capital has sold meat snack producer Western Smokehouse to AUA Equity Partners, a deal that Monogram co-founder and partner Jared Stein proves out the firm’s thesis of heavily investing in supply chain-oriented companies.

Swedish oat beverage maker Oatly announced that revenue increased 4.9% year-over-year to reach $195.1 million in Q4, while also informing investors that it had secured $425 million in financing commitments that will allow the business to grow as it looks to reach “self-sufficiency.”

Oatly is making moves toward its transition to an asset-light, supply chain strategy after inking a $72 million deal with Toronto-based co-packer Ya YA foods on Tuesday.

The conference turned its attention to agriculture over the weekend while climate protests ranged outside the doors. The primary grievance connecting both protesters and attendees: proposed climate action has not been not enough.

Oatly announced it will lay off staff and transition the business to an “asset-light” hybrid production model after reporting a net loss of $107.9 million, with revenue growth falling short of analysts’ expectations, in its Q3 earnings report today.

Across categories, climate-friendly and carbon neutral foods at Expo East showcased a variety of approaches but entrepreneur’s operating in the space all shared a similar sentiment: consumers care about carbon, and food companies should too.

Following a successful first year, Oatly is brewing up a second edition of its Big Idea Grant initiative to help small coffee businesses pursue their strategies, projects and innovative ideas.

Shares of Oatly fell by over 20% earlier today after the Swedish oat milk maker downgraded its revenue growth targets for the rest of this year.