US divisions of Coca-Cola and Pepsi are both vying for investment in Greek yoghurt producer Chobani.
Any investment deal could value Chobani at US$3billion.
Reuters say the yoghurt producer is after an investor who can help grow the brand internationally and expand the supply chain, distribution and manufacturing. In exchange Chobani will reportedly hand over 10 – 20 per cent share of the company.
As pointed out by Reuters, both Coca-Cola and Pepsi have experience within the dairy industry. Coca-Cola currently sells FairLife milk beverages in the US through a joint partnership.. The US arm of Pepsi sells Muller yoghurt with German company Theo Muller.
Although Coca-Cola and Pepsi have both not yet commented on the investment bid, it has been speculated that the companies are looking to take advantage of the fast-growing health food market.
About Chobani
Chobani had its start in 2005 when CEO and founder Hamdi Ulukaya brought a yoghurt plant formerly owned by Kraft.
The product was first launched into Australia supermarkets in 2011.
A number of varieties and flavours are now sold throughout Australian supermarkets and are marketed as being low in fat, gluten-free and that it has two times more protein per serving than regular yoghurt.
