Oatly

Oatly raises $200m from celebrity backers including Oprah and Jay-Z

The firm on Tuesday said a group including investment giant Blackstone Group and celebrities Oprah Winfrey, Jay-Z and Natalie Portman bought a stake in the company for $200m (£160m).

The move is a sign of growing interest in milk made with plant alternatives.

Oatly said the money would be used to expand and build new production plants.

Founded in the 1990s, Oatly entered the US market four years ago and the product proved so popular it created shortages.