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Chobani Secures 750 Million Dollar Loan for Potential IPO and Product Expansions

Chobani Secures 750 Million Dollar Loan for Potential IPO and Product Expansions


NORWICH, NY Chobani has secured a $750 million investment from private-equity firm TPG in preparation for a potential initial public offering and expansion into other categories, like desserts and cooking ingredients, according to Wall Street Journal. Two representatives from TPG will have seats on the company’s board. Chobani Founder and CEO Hamdi Ulukaya will serve as its chairman. The Wall Street Journal reports that the investment is a second-lien loan, which supposedly “includes warrants that could give TPG an ownership stake of between 20% and 35%.” “Chobani has experienced tremendous growth and leads one of the most exciting aisles in the supermarket,” said Ulukaya. “This investment gives us additional resources to build on our momentum, fund our exciting new innovations and reach new people.” “Hamdi and the team at Chobani have in seven years turned the vision of bringing a quality, nutritious Greek yogurt to America into a highly successful business,” said James Coulter, a Co-Founder of TPG. “We look forward to Chobani’s future growth and expansion of the brand.” Chobani has recently unveiled six new products for the summer by June 2014, which include Chobani Greek Yogurt Oats, an authentically strained Greek Yogurt mixed with real fruit and whole grain steel-cut oats, Chobani Indulgent, a dessert product, Chobani Kids, a yogurt snack featuring fun flavors for kids, Chobani Seasonal, Chobani Simply 100 Greek Yogurt in Key Lime and Pineapple Coconut, and Chobani Kitchen, a 4% whole milk product, according to a press release. Chobani Secures 750 Million Dollar Chobani Secures 750 Million Dollar Chobani aims to go public by 2015. What else does this company have in store for the future? Stay tuned to DeliMarket TV as we continue following Chobani’s expansion. Chobani
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