Oatly shares rise after oat milk maker expands Amazon relationship

Investing.com -- Shares in Oatly Group (NASDAQ: OTLY) rose in early U.S. trading on Thursday after the alternative milk brand said a range of its products will be available on Amazon (NASDAQ: AMZN) in several western European countries.

The oat milk maker announced that it had expanded the scope of its agreement with Amazon to include "key European markets" like Germany, France, Italy, Spain, Netherlands and Belgium. Customers of Amazon's Prime subscription service in these markets will be able to access a variety of Oatly's offerings with next-day delivery options.

Oatly previously launched a relationship with Amazon in the U.K. last year. The Malmö, Sweden-based company said this arrangement led to its Oatly Barista Edition oat milk "regularly" performing in the top 30 of all grocery products.

A new pan-European business group has been created by Oatly to manage the partnership with Amazon, Oatly added.

“We’re excited to build on the successful relationship we’ve had with Amazon in the UK and look forward to making more Oatly products available to more Amazon customers across Europe,” said Daniel Ordoñez, chief operating officer at Oatly, in a statement.

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