Chobani secures US$750m investment
Yoghurt company Chobani has secured a US$750 million investment from TPG Capital to fund future growth, expansion and innovation. As part of the agreement, TPG will be represented on Chobani’s Board of Directors.
“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,” said Hamdi Ulukaya, Chobani’s founder, Chief Executive Officer and Chairman. Ulukaya will remain as the company’s Chairman.
Chobani’s 2013 revenues exceeded US$1 billion. The company donates 10% of its annual profits to charities worldwide, including through its charitable arm, the Chobani Foundation.
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