Chobani Acquires La Colombe
Entry into the high-growth ready-to-drink coffee category furthers Chobani's evolution into a diversified next generation food & beverage company
Chobani, LLC announced that it has acquired La Colombe for $900 million. Chobani financed the acquisition through the combination of a newly issued $550 million term loan, cash on hand and the exchange of Keurig Dr Pepper's (KDP) minority equity stake in La Colombe into Chobani equity.
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La Colombe currently serves consumers across multiple channels, including retail, cafes, foodservice, and direct-to-consumer. The brand is the only ready-to-drink ("RTD") coffee company, owning its supply chain from conscious bean sourcing and premium roasting to the creation of exceptional product experiences for loyal customers.
As part of Chobani, La Colombe will continue to operate as an independent brand. This approach allows for collaboration and knowledge sharing between the two companies while preserving the unique identity and innovation that La Colombe is known for.
La Colombe is a growing player in the fast-growing $5 billion US RTD coffee category, and its offering will prove highly complementary to Chobani's core yogurt portfolio and modern foods innovations, including oat milk and creamer. As a result of its superior brand and the consumers' developing preference for cold coffee, La Colombe's RTD line has grown over 3x in the last five years and is positioned for accelerated growth.
Beyond plans to unlock La Colombe's sales potential, Chobani will also enhance La Colombe's procurement practices, deliver meaningful cost synergies, and elevate its overall operational performance. In addition, given cultural alignment and shared values, La Colombe will play a key role in the Company's ongoing journey to doing good and making the world a healthier place.
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