Keurig Dr Pepper to sell back Chobani stake for $925 million - Reuters

Keurig Dr Pepper has announced an agreement to sell its equity stake in the yogurt manufacturer Chobani. The transaction is valued at $925 million.

In addition to the divestment of its stake in Chobani, the agreement includes the sale of a manufacturing campus located in Pennsylvania. This facility was previously part of the beverage company's operational assets.

The total consideration for both the equity stake and the real estate property is set at $925 million. This move marks a significant shift in the company's investment portfolio.

The divestment follows Keurig Dr Pepper’s earlier strategic decision to acquire a minority stake in Chobani, which was intended to bolster its presence in the broader food and beverage market. The current sale represents a complete exit from that specific investment position.

The company has not provided extensive details regarding the specific use of the proceeds from this transaction. The deal is expected to conclude following the fulfillment of standard closing conditions.