Greek-yogurt maker Chobani buys coffee company La Colombe for $900M
La Colombe has been around since 1994
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Greek-yogurt maker Chobani said on Friday it had bought ready-to-drink coffee maker La Colombe for $900 million to expand its beverage business.
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Chobani said it bought the Philadelphia-based company through a combination of newly issued $550 million term loan, cash on hand and in exchange of Keurig Dr Pepper's minority equity stake in the coffee brewer.
NEW YORK, NEW YORK - AUGUST 12: Chobani® Greek Yogurt in 32 oz. tubs and multi-packs are seen on the shelf in the dairy aisle at a local grocery store on August 12, 2021 in New York City. (Photo by Eugene Gologursky/Getty Images for Chobani) (Eugene Gologursky/Getty Images for Chobani / Getty Images)
Last year, Chobani withdrew its plans for an initial public offering in the United States after having delayed its listing plans earlier. The company has been expanding its product categories by adding products such as coffee creamers.
NEW YORK, NEW YORK - AUGUST 12: Chobani® Non-Dairy Oatmilk in a variety of flavors on the shelf in the dairy aisle of a local grocery store on August 12, 2021 in New York City. (Photo by Eugene Gologursky/Getty Images for Chobani) (Eugene Gologursky/Getty Images for Chobani / Getty Images)
La Colombe will continue to operate as an independent brand, the companies said.
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