Entrepreneurial Equity Partners (“e2p”), a Chicago-based private equity firm focused on the food and consumer packaged goods industries, announced today that an affiliate of one of its portfolio companies, Ya YA Foods Corporation (“Ya YA Foods” or the “Company”), closed the previously announced acquisition of certain U.S. manufacturing assets from subsidiaries of Oatly Group AB (“Oatly”), including a majority of the manufacturing equipment in Oatly’s Ogden, Utah facility. Ya YA Foods will also assume responsibility for the completion of construction of Oatly’s Fort Worth, Texas facility and will enter into a long-term contract to manufacture products for Oatly in Ogden and Fort Worth.

Ya YA Foods offers end-to-end packaging solutions to multi-national beverage companies across North America. The Company is a leading aseptic contract manufacturer of low-acid beverages such as plant-based milks, plant-based and bone broths, high-protein beverages, and specialty dairy products, as well as high-acid beverages such as juice. e2p invested in Ya YA Foods alongside the Abbas Al-Ali family in February 2021, with Ya YA Foods founder and CEO Yahya Abbas continuing to lead the Company.

e2p Managing Partner Mark Burgett said, “We have been pleased with the strong financial performance of Ya YA Foods since our investment in early 2021. The Company has delivered significant growth from its 800,000 square foot manufacturing facility in Toronto, Canada and repeatedly demonstrated its unique ability to provide customers with creative and flexible manufacturing solutions. This partnership with Oatly is the perfect opportunity to expand Ya YA Foods’ footprint to the United States, which has been our highest strategic priority for the business since our initial investment. We believe this transaction and partnership will allow us to showcase not only Ya YA Foods’ special capabilities but also e2p’s ability to support the growth of its portfolio companies and drive superior outcomes for the customers and stakeholders of our businesses.”

Yahya Abbas, founder and CEO of Ya YA Foods said, “We are excited to take the first step in this long-term strategic partnership with Oatly, which will allow them to leverage our expertise in aseptic beverage packaging while focusing on their core capabilities in oat base technology, innovation, and branding. Ever since I founded Ya YA Foods in 2008, expanding the Company to the United States and continuing to enable growth for our customers has been a key part of my vision for the business. This partnership with Oatly is the perfect opportunity to make that vision a reality, and I am pleased to have the continued support of e2p to make it happen.”

Toni Petersson, Oatly’s CEO, commented, “Ya YA Foods’ deep production expertise makes them an ideal partner to help us advance Oatly’s mission to convert more consumers to plant-based. We look forward to working together – combining their specialized capabilities in packaging and aseptic filling with our proprietary knowledge in oat base manufacturing to deliver superior products that are healthy for people and the planet.”