Chobani gains funding for expansion
Chobani, maker of Greek yogurt in the US, has secured a $750 million (€542.6m) investment from TPG Capital, a private investment firm and TPG Opportunities Partners, its dedicated credit platform, which will help fund future growth, expansion and innovation at the company. As part of the transaction, TPG will have representation on the company’s board of directors, and Hamdi Ulukaya will serve as chairman.
Ulukaya, chairman of Chobani, says, “Chobani has experienced tremendous growth and leads one of the most exciting aisles in the supermarket. This investment gives us additional resources to build on our momentum, fund our exciting new innovations and reach new people. Most importantly, it positions us to further deliver on our vision to provide better food for more people.”
Founded in 2005, Chobani’s Greek yogurt is produced in New Berlin, New York, and at its production facility in Twin Falls, Idaho. Chobani’s 2013 revenues exceeded $1 billion (€723m).
