Sweden: Ingka Group takes majority stake in The Green Dairy

Ingka Investments, the investment arm of the IKEA retailer Ingka Group, has acquired a majority stake in the Swedish plant-based manufacturer The Green Dairy for 80 million SEK ($8.6 million).

Based in Karlshamn, The Green Dairy is a specialist producer of liquid plant-based dairy alternatives made primarily from oats and fava beans. The company operates as a B2B supplier, providing a portfolio that includes barista-style oat milks, cooking creams, ice creams, and soft-serve bases for the food and beverage industry. It also offers private-label and contract manufacturing services.

A spokesperson for Ingka Investments commented: “This majority stake will provide The Green Dairy with greater stability, which is needed for sustainable long-term growth. At the same time, we continue to support the company’s mission to develop affordable, plant-based alternatives to dairy products”.

The Green Dairy also operates a circular upcycling process that converts oat residues into a protein-rich ingredient branded as reOat. In 2024, the manufacturer reported net sales of 137.9 million SEK ($14.8 million).

Ingka Group has held a minority interest in the producer since 2012. The move aligns with the retailer’s sustainability goals, which include a target for 50% of main meals served in IKEA restaurants to be plant-based by 2025.

Source: Inside Retail / Protein Production Technology / The Green Dairy / Ingka Group / Mejeritekniskt Forum