Chobani Secures $750 Million Investment
NEW BERLIN, N.Y. (AP) — Greek yogurt maker Chobani has secured a $750 million investment from investment firm TPG Capital to help fund its growth.
The privately-held food company said Wednesday that as part of the deal, TPG will have representation on the company's board. Chobani was founded in 2005 and is based in New Berlin. It has grown quickly in recent years on the surge of popularity in Greek yogurt. The company says the investment gives it resources to build on its momentum and reach more customers.
TPG says it plans to bring the same skills to developing Chobani that it has to other companies it has invested in, such as J. Crew and Neiman Marcus.