Keurig Dr Pepper sells stake in Chobani and manufacturing facility
Keurig Dr Pepper (KDP) has agreed to sell its full equity stake in Greek yogurt maker Chobani for $800 million, as well as a Pennsylvania-based plant and warehouse for approximately $125 million. The transactions aim to enhance KDP's financial flexibility while supporting the expansion of its distribution partnership with Chobani. Proceeds from these sales will be used by KDP to reduce debt following its acquisition of JDE Peet’s in 2023. Chobani plans to invest $1.2 billion over five years at the Allentown facility, which is expected to create more than 900 jobs and serve as a hub for new product development focused on high-protein, low-sugar dairy products. The site will also continue producing some KDP-branded items under co-manufacturing agreements. KDP remains involved in distributing Chobani-owned beverages through its direct-store-delivery network and continues licensing arrangements for La Colombe K-Cup pods.
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