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Keurig Dr Pepper said it agreed to sell its entire equity stake in Chobani back to the company for $800 million. It will also sell its Allentown, Pennsylvania manufacturing facility and warehouse in the deal.
Keurig Dr Pepper said it will sell its minority stake in Chobani back to the yogurt maker, receiving $925 million, including $800 million for the stake, ahead of Chobani’s planned split into two public companies.
Keurig Dr Pepper will sell a minority investment in Chobani and a Pennsylvania facility for $925 million in pre-tax proceeds, supporting its deleveraging goals. It will also update and expand its long-term commercial relationship with Chobani.