Keurig Dr Pepper Sells Chobani Stake for $800 Million Ahead of Split
Keurig Dr Pepper (NASDAQ:KDP) has agreed to sell its entire equity stake in Chobani back to the yogurt company for $925 million, including a manufacturing facility and warehouse. The move is part of KDP's strategy to streamline operations ahead of splitting into two separate public companies—Beverage Co. and Global Coffee Co.—planned for early 2027. The Chobani stake was acquired indirectly in 2023 when La Colombe, a coffee brand owned by Keurig Dr Pepper at the time, was bought by Chobani for $900 million. KDP will continue to distribute Chobani-owned products like La Colombe ready-to-drink lattes and maintain its licensing agreement with La Colombe for K-Cups. Chobani plans a significant investment of $1.2 billion over five years at the Allentown facility, which is expected to create more than 900 jobs as part of a broader $4 billion manufacturing network expansion.
Tickers: $KDP
Topics: divestiture M&A spin-off preparation