Firm Investing $750 Million in Chobani Yogurt, Company Plans New Products & Market Expansion
Chobani Yogurt based in neighboring Chenango County has locked up a $750 million investment from a private capital firm. The money will help the greek yogurt maker expand its markets in Asia and Latin America.
TPG Capital will loan Chobani $750 million, besides increasing markets Chobani plans to roll out a series of new products that go beyond a simple cup of yogurt.
Chobani is valued at about $5 billion. The company is considered a pioneer in the American Greek yogurt market.
This summer, Chobani will launch a series of new products, including a package containing oats and fruit, a dessert cup, and another designed specifically for used in cooking.
TPG is a global private investment firm the company has previously invested in companies such as Burger King, Del Monte Foods, J.Crew, Neiman Marcus and Petco.