Keurig Dr Pepper to sell Chobani stake and facility in $925 million deal
Keurig Dr Pepper (KDP) announced plans to sell its equity interest in yogurt brand Chobani for $800 million, along with a Pennsylvania manufacturing facility for an additional $125 million. The move is part of the company's ongoing portfolio restructuring following its acquisition of JDE Peet’s earlier this year and ahead of splitting into two publicly traded entities. Chobani intends to invest up to $1.2 billion in the acquired Allentown facility over five years, aiming to produce low-sugar, high-protein milk products. The transaction aligns with KDP's strategy to streamline operations post-acquisition while maintaining its full-year financial forecasts despite divesting a key asset. The deal reflects broader industry trends of consolidation and strategic realignment among major beverage companies.
Tickers: $KDP
Topics: Chobani JDE Peet's acquisition Keurig Dr Pepper portfolio reshaping