(Reuters) – Greek-yogurt maker Chobani said on Friday it had bought ready-to-drink coffee maker La Colombe for $900 million to expand its beverage business.
Chobani said it bought the Philadelphia-based company through a combination of newly issued $550 million term loan, cash on hand and in exchange of Keurig Dr Pepper’s minority equity stake in the coffee brewer.
Last year, Chobani withdrew its plans for an initial public offering in the United States after having delayed its listing plans earlier. The company has been expanding its product categories by adding products such as coffee creamers.
La Colombe will continue to operate as an independent brand, the companies said.
(Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Maju Samuel)
