Chobani acquires La Colombe for $900M

Chobani announced that it has acquired La Colombe for $900M. Chobani financed the acquisition through the combination of a newly issued $550M term loan, cash on hand and the exchange of Keurig Dr Pepper’s (KDP) minority equity stake in La Colombe into Chobani equity. “At a time where the industry has faced challenges to grow sales, Chobani has delivered double-digit, volume-led sales growth, and considerable margin expansion. We have never been stronger or better positioned to chart our next chapter of growth. We’ve already made an investment in the coffee category with our creamers and are excited about bringing La Colombe into the Chobani family, and offering the delicious, high-quality cold brew and ready-to-drink craftmanship of La Colombe to a next generation of consumers, powered by a strong distribution partner in KDP,” stated Chobani Founder and CEO Hamdi Ulukaya. “La Colombe is a unique brand and well positioned to continue its strong growth trajectory, including upside as its ready-to-drink line expands availability through our Company-owned DSD network and with premium K-Cup pods now in the market. Both as a strategic partner and a minority shareholder, we are excited by the path ahead,” said, KDP Chairman and CEO Bob Gamgort.