To grow its beverage portfolio, Chobani, the maker of Greek-yogurt, acquired La Colombe, a ready-to-drink coffee producer, for $900 million on Friday.
The deal was financed by a mix of a new $550 million term loan, cash reserves and swapping Keurig Dr Pepper’s (KDP.O) minority stake in the coffee company for Chobani shares.
Chobani had scrapped its plans to go public in the United States last year, after postponing them earlier. The company has been diversifying its products by introducing items like coffee creamers. The companies said La Colombe will remain a separate brand.
Chobani yogurt is a popular brand of Greek yogurt that is made with natural ingredients and sweeteners. It is a good source of protein and probiotics, and comes in various flavors and products. Chobani also produces coffee creamers and ready-to-drink coffee beverages.
La Colombe is a specialty coffee roaster and retailer that was founded in 1994 by Todd Carmichael and JP Iberti. La Colombe is known for its innovative products, such as the first-ever Draft Latte, a cold latte in a can. La Colombe has over 30 cafes across the United States and also sells its coffee online and in grocery stores.
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