Popular US yoghurt brand, Chobani, is looking to sell a 20 percent minority share in its business which could see it valued at around $2.5 billion.
According to Reuters, people familiar with the matter have claimed Chobani is speaking to consumer companies and private equity firms as it considers selling approximately a 20 percent stake in the business.
Last year, Chobani’s founder, Hamdi Ulukaya, was named the Ernst & Young World Entrepreneur of the Year, and in July, David Denholm, ex-MD at Kellogg Australia/New Zealand, was named president and chief operating officer.
The brand was last year considering a public offering, however according to Reuters, this was put on ice due to increased competition from other Greek yoghurt manufacturers.