IKEA’s investment arm, Ingka Investments, is becoming the majority shareholder in the Swedish company The Green Dairy, which produces dairy alternatives primarily from oats, as well as other crops.
IKEA has held a minority stake in The Green Dairy since 2012, but the new deal makes Ingka Investments the company’s largest owner. According to industry publication Impact Loop, the transaction involves an investment of SEK 80 million.
In a statement to Impact Loop, a spokesperson for Ingka Investments said:
- This majority stake will provide The Green Dairy with greater stability, which is essential 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 was founded in Karlshamn in 2006 and continues to operate its production facility there. The company supplies plant-based products such as drinks and frozen desserts to other manufacturers. Its CEO is Johan Girdo, formerly European head of Oatly.
According to Dagens Industri, The Green Dairy reported net revenue of SEK 137.9 million in 2024 but recorded a negative EBITDA of approximately SEK 72.3 million.
The investment aligns with the Swedish furniture giant’s ambition to reduce traditional dairy products on its café and restaurant menus as part of a broader sustainability strategy. IKEA aims to become climate-positive by 2030, with a current target for 50 per cent of main dishes served in IKEA restaurants worldwide to be plant-based by 2025.
LMW