NEW BERLIN, N.Y. — Greek yogurt maker Chobani has secured $750 million in capital from the private investment firm TPG Capital. As part of the investment, TPG will have representation on Chobani’s board of directors. Hamdi Ulukaya, the chief executive officer of Chobani, will serve as chairman of the board.
“Chobani has experienced tremendous growth and leads one of the most exciting aisles in the supermarket,” Mr. Ulukaya said. “This investment gives us additional resources to build on our momentum, fund our exciting new innovations and reach new people.”
Earlier this month Chobani announced it was extending its product portfolio to include yogurt-based items featuring oats, indulgent ingredients such as dark chocolate, and those that may be used for meal preparation.“Hamdi and the team at Chobani have in seven years turned the vision of bringing a quality, nutritious Greek yogurt to America into a highly successful business,” said Jim Coulter, co-founder, TPG. “We look forward to Chobani’s future growth and expansion of the brand by bringing the skills we have developed in helping build companies like J. Crew and Neiman Marcus.”