Greek yoghurt manufacturer Chobani is said to have secured a $750 million capital investment from private investment firm TPG Capital.
As reported by Food Busines News, as part of the investment agreement TPG will have representation on the company’s board of directors, while Hamdi Ulukaya (Chief Executive Officer for Chobani) will serve as chairman.
Mr Ulukaya spoke of the investment by saying “Chobani has experienced tremendous growth and leads one of the most exciting aisles in the supermarket. This investment gives us additional resources to build on our momentum, fund our exciting new innovations and reach new people”.
Chobani has also recently announced plans to extend its product range to now include yogurt-based items featuring oats, indulgent ingredients such as dark chocolate, and those that may be used for meal preparation.
Source: Food Business News