“Healthy can be tasty!”, shouted a lone company - and the world listened!

We are what we eat - but diets and health does not always come at a great taste. Most of the diets and meals start with one of the most used ingredients - milk.

The inventor of the oat milk, Rickard Öste, joined forces with his brother, Björn Öste, to create a healthier future for everyone.

Bjorn and Rickard Oste started their journey into making oat drinks that will tingle even the pickiest vegan palates. Oatly started small in their hometown Malmo and now they are taking over the world with the godly taste.

With a mindset to change the world to a healthier place, Oatly products are becoming more and more in-demand.

Rickard and Björn Öste began the journey to shoot for the stars. Read how they bring the whole galaxy Oatly taste while drinking the quality of the milky way.

Brotherly Alliance

Björn Öste was born and raised in Malmo, Sweden as one of the Öste brothers that will leave a mark on the world.

Since early childhood, Björn was interested in computer science. He was raised in an era where digitalization started to get serious. Björn’s interest in computers led him to the idea to pursue a career as a computer engineer.

Young Björn thought that he could make an impact on everyday life through technology and lift humanity to a more healthy lifestyle.

Rickard Öste, Björn’s brother was also born and raised under the same roof as Björn. Just like his brother, Rickard had a pretty conventional childhood, abundant with love and childish joy. Despite the fact that they are brothers and share the same DNA, they were very different as children and saw the world through distinct eyes and viewpoints.

Rickard was a pretty active kid and had plenty of hobbies that were pretty much physically demanding. Enjoying physically-challenging sports wouldn’t be possible for Rickard if he didn’t live a healthy lifestyle.

Rickard chose a different path than his brother, meaning that he was going to do his best as a nutritionist.

Two Paths, One Goal

Björn Öste’s vast career story started from his early days of high school. He was seen as the most motivated youngster that pursued his dreams, full throttle! Björn went to Norra Latin, a high school in his hometown, and finished it with the highest grades. Later on, young Björn found himself at a crossroads on where to take his career. The Institute of Technology at Linkoping University was where he went next and earned himself a master’s degree in Industrial Economics in 1983.

Björn had already developed his set of skills and learned many lessons during the period, feeling confident enough to start a software company with friends and colleagues from the university. Tough days and sleepless nights followed for Björn but in the long run, the experience he got from running that company proved to be most beneficial for his future ventures.

Before joining forces with his brother Rickard and creating Oatly, Björn emerged into several projects, furthering his knowledge and leadership skills. First on the list is the co-founder position at Dynasoft Dynamic Software, VP product management at RSA Security Inc. USA, Chairman of the Board and co-founder of United Pancakes AB, co-founder and Member of the Board at Adventure AB.

Not stopping there, Björn became a partner in 2BalanceU and co-founder/ CEO of Good Idea Drinks. These two leading positions happened before the rise of Oatly, enabling Björn to enter the business with a certain amount of valuable knowledge.

Rickard Öste claims the title of the inventor of oat milk. And his journey is an adventure on its own. Rickard is a proud author of over 100 publications under his belt, including original research, reviews, and popular science, as well as patents that are now being used in the industry.

Being quite business-savvy, Rickard has garnered precious experience, boasting 25 years of experience with Oatly, only.

Before splashing in the dairy world, Rickard Öste was a part-time professor and a research scientist specializing in nutrition.

Before going all-in with Oatly and building an oatsome empire alongside his brother Björn, Rickard had been involved in some startups, as well. Ceba AB (1993), Agrovision (1993), and later on, CropTailor AB (2006) are some of the startups that have had the privilege of having Rickard onboard, along with some of his friends.

Nature’s Power-Drink

The introduction of Oatly stirred the waters of healthy living for many.

But, since the food market has always been full of startup companies promising this and that, Oatly had to be different, Oatly had to bring the O(h) in Oatly!

Working hard toward bringing healthy dieting back in demand, Oatly had met its fair share of hurdles to jump over.

As every product research goes, with a lot of trials and errors, multiple scientists came to a big conclusion while testing the outcome of the oat milk and its benefits. For starters, its great nutritional value backed with delightful taste proved to be a winning combination for both the body and the taste buds.

Further research showed that oat milk is a great contributor to lowering elevated heart rates and being easy on the stomach, unlike other dairy products.

Consumers relish in the deliciousness and healthiness of the oat milk, and thanks to Oatly, user satisfaction is guaranteed.

Made out of certain types of oats, the substance can be gluten-free. Oatly brings multiple products to the table and all of them are as delicious as ever. Oatly doesn’t just taste like milk, but it also comes in different flavors, like ice cream, yogurt, and so on.

Start of a Financially Healthy Era

A few bumps on the road are a must for all startups. Rickard and Björn Öste gave up on everything just to dedicate themselves to Oatly and give it everything they’ve garnered from their professional journey and knowledge.

After being deemed as a relic in the health-food market, Oatly wanted to take a leap of faith and get in track with the world of today. In May of 2021, Oatly made its IPO debut. Oatly put 30% above the initial public offering price, while the market value was $13.1 billion, while the first opening trade was $22.12.

Oatly was created with an idea to make everyone embrace a healthier lifestyle. The company started small, operating from Öste’s family home in Malmo.

Throughout the journey of Oatly, the company was supported with funding from 15 investors. Three of the investors are the main investors, with Blackstone Group being a major one. $441.4 million was raised in more than 5 rounds.

It doesn’t come as a surprise that the famous Oprah Winfrey is among the investors and supporters of Oatly. Some of the other investors in Oatly include LionThree, Ozi Amanat, Coefficient Capital, Howard Schultz, and so on.

The Final Drop

Before the world heard of Oatly, the Öste brothers had to work hard to make a name for their company and face serious competition from companies like Lactalis Group, Pepsi, and Kemps among many more.

Right now, Oatly is not just distributing its products in the Nordic countries in Europe, but it has also started to gain popularity in America. Right now, Oatly’s headquarters are located in Malmo, Skane Lan, Sweden, and it counts around 800 employees at the moment.

Today, Oatly holds its key markets in Northern Europe, supplying over 60,000 retail shops and over 32,000 coffee shops. Proving itself healthy and delicious, thousands of users have chosen Oatly as part of their daily routine.

The future is bright for Oatly, as it becomes more and more popular across the world. All we can do is sit back and watch as the Öste brothers ride their own milky way, all the while delivering quality service, a nutritional revolution, and out-of-this-world taste to remember!