Deals
Chobani Rejects PepsiCo's Offer to Take Stake in Yogurt Company
Chobani, founded by Hamdi Ulukaya, has rejected an offer by PepsiCo.
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Chobani, the Greek-yogurt maker founded by billionaire Hamdi Ulukaya, has rejected an offer from PepsiCo Inc. to take a major stake in the company.
Chobani hired Goldman Sachs Group Inc. last year to seek a strategic partner that would invest in the company and help it expand distribution and production. A recent offer from PepsiCo to invest in the company was shot down, effectively ending deal discussions, according to Michael Gonda, a spokesman for the Norwich, New York-based yogurt company. PepsiCo declined to comment.