Chobani, the Greek yogurt manufacturer, headquartered in Norwich, New York, has officially announced the acquisition of La Colombe, a ready-to-drink coffee company, for USD 900 million. The funding for this acquisition was secured through a combination of a newly issued USD 550 million term loan, existing cash reserves, and the exchange of Keurig Dr Pepper's minority equity stake in La Colombe for Chobani equity.
Established in 1994 in ‘Philadelphia, La Colombe is a prominent independent coffee roaster committed to providing excellent coffee through ethical trade practices, equity advocacy, and community empowerment. Known for its signature blends, exceptional single-origin coffees, and the world's first textured canned cold latte, La Colombe operates 32 cafes across major U.S. cities. The company's products are available in cafes, hotels, restaurants, and retailers globally.
While in partnership with MolsonCoors in September 2019 for a hard cold brew coffee test in three U.S. markets (inside.beer, 11.9.2019), La Colombe later decided, in November 2022, to end its distribution agreement with Molson Coors by March 31, 2023. The termination aimed to consolidate its ready-to-drink coffee business with its bagged coffee and cold brew coffee multi-serves.
Chobani Founder and CEO, Hamdi Ulukaya, expressed confidence in the acquisition, citing Chobani's strong sales growth and expanded margins. He emphasized the strategic fit of La Colombe's high-quality cold brew and ready-to-drink products with Chobani's existing offerings, including oat milk and creamer. La Colombe will maintain its independence within the Chobani family, fostering collaboration while preserving its unique identity and innovation.
As part of Chobani, La Colombe is poised to benefit from the company's extensive retail execution, marketing capabilities, and cold chain expertise. The acquisition aligns with Chobani's mission of making nutritious food accessible to a broader audience, and the company plans to enhance La Colombe's operational performance, procurement practices, and cost synergies.
Chobani, known as America's No.1 yogurt brand, is committed to using food as a force for good, prioritizing philanthropic efforts such as eradicating child hunger, supporting immigrants and refugees, honoring veterans, and environmental conservation. The company manufactures its products in New York, Idaho, and Australia, distributing them throughout North America and select international markets.
