Oatly Launches New Plant-Based Cream Cheese in the US
June 06 2023 - 9:00AM
Oatly Group AB (Nasdaq: OTLY)(“Oatly” or the “Company”), the
world’s original and largest oatmilk company, today announced the
nationwide launch of its newest product in the US: a delectable
plant-based cream cheese. Available in two flavors, Plain and Chive
& Onion, Oatly's latest food innovation cracks the
deliciousness code by delivering all the savory, tangy goodness of
a “traditional” cream cheese without any dairy whatsoever.
Developed by food scientists at the Company’s Philadelphia
R&D lab, the new dairy-free, gluten-free and non-GMO products
deliver the same performance and taste cream cheese lovers have
come to expect. Oatly’s plant-based cream cheese boasts a rich and
creamy texture, perfect for spreading on bagels, enhancing recipes,
or simply enjoying as a delicious condiment.
“Oatly has always been at the forefront of providing delicious
plant-based alternatives and this new product is no different,"
said Mike Messersmith, President, Oatly North America. "We’re
extremely excited about the launch of our new cream cheese in the
US, as it not only expands our mission to bring more plant-based
consumption occasions to consumers, but also continues to prove
the versatility and opportunity for oat-based products.”
Made from Oatly’s proprietary oat base – the foundation of all
Oatly products – this new cream cheese offers yet another
opportunity for people to easily make the switch from dairy to
plant-based foods, which generally have a lower environmental
impact compared to traditional dairy products1.
“For decades, we’ve focused on the power of oats and the magic
that happens when you unlock their potential,” said Leah Hoxie, SVP
Innovation at Oatly North America. “With this new cream cheese, our
US R&D team spent over a year focused on bringing to market a
truly great-tasting and performing plant-based option that mimics
dairy cream cheese in all the best ways possible, minus the
dairy.”
Oatly Plain and Chive & Onion cream cheese varieties (8 oz)
begin to roll out at retailers nationwide today through the second
half of this year. For more information, visit Oatly.com.
About OatlyWe are the world’s original and
largest oat drink company. For over 25 years, we have exclusively
focused on developing expertise around oats: a global power crop
with inherent properties suited for sustainability and human
health. Our commitment to oats has resulted in core technical
advancements that enabled us to unlock the breadth of the dairy
portfolio, including alternatives to milks, ice cream, yogurt,
cooking creams, spreads and on-the-go drinks. Headquartered in
Malmö, Sweden, the Oatly brand is available in more than 20
countries globally.
Forward Looking StatementsThis press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Any express or
implied statements contained in this press release that are not
statements of historical fact may be deemed to be forward-looking
statements, including, without limitation, regarding the launch of
the Company’s new plant-based cream cheese product, as well as
statements that include the words “expect,” “intend,” “plan,”
“believe,” “project,” “forecast,” “estimate,” “may,” “should,”
“anticipate,” “will,” “aim,” “potential,” “continue,” “is/are
likely to” and similar statements of a future or forward-looking
nature. Forward-looking statements are neither promises nor
guarantees, but involve known and unknown risks and uncertainties
that could cause actual results to differ materially from those
projected, including, without limitation: general economic
conditions including high inflationary cost pressures; our history
of losses and inability to achieve or sustain profitability; the
impact of the COVID-19 pandemic, including the spread of variants
of the virus, on our business and the international economy; any
failure to obtain necessary capital when needed on acceptable
terms; a cybersecurity incident or other technology disruptions;
changing consumer preferences and our ability to adapt to new or
changing preferences; and the other important factors discussed
under the caption “Risk Factors” in Oatly’s Annual Report on Form
20-F for the year ended December 31, 2022 filed with the SEC on
April 19, 2023 and other filings with the SEC as such factors may
be updated from time to time. Any forward-looking statements
contained in this press release speak only as of the date hereof
and accordingly undue reliance should not be placed on such
statements. Oatly disclaims any obligation or undertaking to update
or revise any forward-looking statements contained in this press
release, whether as a result of new information, future events or
otherwise, other than to the extent required by applicable law.
1 Poore, J., & Nemecek, T. (2018). Reducing food’s
environmental impacts through producers and consumers. Science,
360(6392), 987-992.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/c072a481-c3ce-40d2-a569-4fd689b7ec89
Contact: press.us@oatly.com
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