Chobani Rejects PepsiCo Offer to Buy Stake
February 05 2016 - 09:02PM
Dow Jones News
By Annie Gasparro and Mike Esterl
Chobani Inc. said it rejected an offer from PepsiCo Inc. to buy
a majority stake in the company.
The U.S. yogurt maker hired Goldman Sachs last summer to seek a
partnership with a major food company.
Chobani said Friday it was only interested in selling a minority
stake and Pepsico was only interested in a majority stake.
PepsiCo declined to comment Friday.
Chobani Founder and Chief Executive Hamdi Ulukaya presented his
strategy to multiple companies, hoping a partnership would help
propel Chobani into other product categories like dips and expand
to other countries.
But now, the company plans to pursue those opportunities on its
own, a Chobani executive told The Wall Street Journal on
Friday.
"The relationship with Goldman Sachs remains, and Chobani will
continue to be open to exploring and hearing options to fuel its
growth, but independence remains an important asset to the
company," the executive said.
Write to Annie Gasparro at annie.gasparro@wsj.com and Mike
Esterl at mike.esterl@wsj.com
(END) Dow Jones Newswires
February 05, 2016 20:47 ET (01:47 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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