, Chobani, the Greek-yogurt maker, has rejected an offer from PepsiCo to take a major stake in the company. The main issue was how much of a stake PepsiCo would acquire: Chobani wanted to sell a minority stake, while PepsiCo wanted the majority of the company.
In 2015, Chobani hired Goldman Sachs Group to seek a strategic partner that would invest in the company and help it expand distribution and production. At the time, the company was trying to get back on track following struggles stemming from a rapid expansion. Chobani, whose sales grew to $1 billion over its first five years on the market, lost $115 million in the second half of 2013 as it struggled to ramp up production.
The company plans to self-fund an expansion of its popular Flip line of yogurt and a move into the Mexican market.