(Reuters) – Coca-Cola Co has ended talks to invest in Chobani LLC after deciding that the maker of Greek yogurt was not the best fit for its portfolio, people familiar with the matter said on Wednesday.
Coca-Cola was competing against PepsiCo Inc to invest in Chobani, a deal that Chobani hopes could value it at as much $3 billion, including debt, Reuters reported on Monday, citing sources.
To be sure, other companies have also expressed interest in Chobani. One of them has been organic foods producer WhiteWave Foods Co, the people said.
The source asked not to be identified because the matter is not public. Coca-Cola and Chobani declined to comment. WhiteWave did not immediately respond to a request for comment.
Chobani is exploring selling a minority stake, including warrants owned by private equity firm TPG Capital LP that account for between 10 percent and 20 percent of the yogurt maker’s equity depending on its financial performance, sources have previously said.
Chobani is looking for a strategic investor to help expand its supply chain, distribution, manufacturing base and geographic footprint for its popular yogurts like Flip, which combine yogurt with flavors such as peanut butter and coffee, the people added.
CNBC first reported earlier on Wednesday that Coca-Cola was no longer actively considering an investment in Chobani. (Reporting by Lauren Hirsch in New York and Greg Roumeliotis; Editing by Christian Plumb)
The facility is designed to foster innovation and deepen collaboration with customers, by offering a range of new services and solidifying its role as a central hub for customer support. Tereos’ team, supported by a network of 50 scientists, will ensure customers can innovate and meet the rising consumer demand for healthier and more sustainable products.
Glanbia has agreed to acquire Flavor Producers from Aroma Holding for an initial consideration of $300 million. Flavor Producers is a US-based flavour platform, providing flavours and extracts to the F&B industries, with a focus on organic and natural ingredients.
Lesnard, who previously worked at Nike, The North Face and Sephora, has a mission to “grow and sustain GODIVA’s position and expertise in the premium chocolate category, leveraging ongoing support from pladis to take GODIVA and its legendary chocolate to new heights.”
