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Pepsi and Coke battle over Chobani

According to a Reuters report this morning, PepsiCo and Coca-Cola are in talks to invest in Chobani for as much $USD 3 billion for between 10 per cent and 20 per cent of the yogurt maker's equity.

Chobani is looking for a strategic investor to help expand its supply chain, distribution, manufacturing base and geographic footprint for its popular yogurts like Flip, which combine yogurt with flavors such as peanut butter and coffee, the Reuters report said.

Chobani was founded in 2005 by Turkish immigrant Hamdi Ulukaya. 

While its yogurt has become one of the top-selling yoghurt brands in the United States, Chobani has also experienced some growing pains, with private equity firm TPG Capital LP giving it a $USD750 million loan last year to help it fund a turnaround.

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