News Feed Item
Chobani Raises $750 Million In Capital From TPG To Fund Future Growth
|By PR Newswire
|April 23, 2014 04:08 PM EDT
NEW BERLIN, N.Y., April 23, 2014 /PRNewswire/ -- Chobani, maker of America's #1 selling Greek Yogurt, announced today that it has secured a $750 million investment from TPG Capital, a leading global private investment firm and TPG Opportunities Partners, its dedicated credit platform, which will help fund future growth, expansion and innovation at the Company. As part of the transaction, TPG will have representation on the Company's Board of Directors, and Hamdi Ulukaya will serve as Chairman.
Hamdi Ulukaya, Founder, Chief Executive Officer and Chairman of Chobani, stated: "Chobani has experienced tremendous growth and leads one of the most exciting aisles in the supermarket. This investment gives us additional resources to build on our momentum, fund our exciting new innovations and reach new people. Most importantly, it positions us to further deliver on our vision to provide better food for more people."
Ulukaya added: "TPG's commitment represents a belief in our vision and further validates the strength of our brand and business. We're excited to embark on this next phase with TPG."
"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."
Founded in 2005, Chobani's Greek Yogurt is produced in New Berlin, New York, and at its one-million-square-foot production facility in Twin Falls, Idaho. As the leader in Greek Yogurt, Chobani's 2013 revenues exceeded $1 billion. Chobani uses milk from local-area farms and also gives 10 percent of its annual profits to charities worldwide, including through the Chobani Foundation, the company's charitable arm.
BofA Merrill Lynch served as financial advisor and Kirkland & Ellis LLP served as legal advisor to Chobani in this transaction. Ropes & Gray served as legal advisor to TPG.
Maker of America's No. 1–selling Greek Yogurt brand, Chobani was founded on the belief that people have great taste — they just need great options. Chobani produces high-quality authentic strained Greek Yogurt products made with only natural ingredients from its New Berlin, N.Y., and Twin Falls, Idaho, plants. Chobani is committed to using milk from regional-area farms and strengthening its surrounding local economies. Chobani gives 10 percent of its annual profits to charities worldwide through the company's charitable foundation. All Chobani products — including Chobani® Greek Yogurt, Chobani Flip™ and Chobani Simply 100™ — are kosher certified, contain five live and active cultures, and are made with milk from cows not treated with rBST*, with most of its products offering two times more protein than regular yogurt. Chobani products are available nationwide in the U.S., Australia and in countries in Asia and Latin America. For more information, please visit www.chobani.com and www.facebook.com/chobani.
* According to the FDA, no significant difference has been found between milk derived from rBST-treated and non-rBST treated cows.
 Protein content of regular nonfat yogurt is 10g-13g protein per 8 oz. serving; nonfat Chobani Greek Yogurt contains 11g-14g protein per 5.3 oz. serving.
TPG is a leading global private investment firm founded in 1992 with over $59 billion of assets under management and offices in San Francisco, Fort Worth, Austin, Houston, Beijing, Chongqing, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, Paris, São Paulo, Shanghai, Singapore and Tokyo. TPG Opportunities Partners is the dedicated credit platform of TPG. TPG has extensive experience with global public and private investments executed through leveraged buyouts, debt financings, recapitalizations, spinouts, growth investments, joint ventures and restructurings. The firm has extensive consumer and retail expertise with investments in Beringer Wines, Burger King, Del Monte Foods, Gelson's Markets, J.Crew, Lenta, Neiman Marcus, Petco, Savers and Wumart, among others. For more information visit www.tpg.com.
Owen Blicksilver PR, Inc.
SOURCE Chobani, LLC
SYS-CON Events announced today that Pulzze Systems will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming.
For more information, visit http://www.pulzzesystems.com.
Sep. 29, 2016 03:15 AM EDT Reads: 1,900
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins.
However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often ...
Sep. 29, 2016 03:15 AM EDT Reads: 3,565
There is growing need for data-driven applications and the need for digital platforms to build these apps.
In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications.
In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
Sep. 29, 2016 03:00 AM EDT Reads: 1,854
If you’re responsible for an application that depends on the data or functionality of various IoT endpoints – either sensors or devices – your brand reputation depends on the security, reliability, and compliance of its many integrated parts. If your application fails to deliver the expected business results, your customers and partners won't care if that failure stems from the code you developed or from a component that you integrated. What can you do to ensure that the endpoints work as expect...
Sep. 29, 2016 02:45 AM EDT Reads: 1,717
As ridesharing competitors and enhanced services increase, notable changes are occurring in the transportation model. Despite the cost-effective means and flexibility of ridesharing, both drivers and users will need to be aware of the connected environment and how it will impact the ridesharing experience. In his session at @ThingsExpo, Timothy Evavold, Executive Director Automotive at Covisint, will discuss key challenges and solutions to powering a ride sharing and/or multimodal model in the a...
Sep. 29, 2016 02:30 AM EDT Reads: 502
Is your aging software platform suffering from technical debt while the market changes and demands new solutions at a faster clip?
It’s a bold move, but you might consider walking away from your core platform and starting fresh. ReadyTalk did exactly that.
In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue and over a decade of audio conferencing product development to start an innovati...
Sep. 29, 2016 02:30 AM EDT Reads: 2,167
WebRTC adoption has generated a wave of creative uses of communications and collaboration through websites, sales apps, customer care and business applications. As WebRTC has become more mainstream it has evolved to use cases beyond the original peer-to-peer case, which has led to a repeating requirement for interoperability with existing infrastructures.
In his session at @ThingsExpo, Graham Holt, Executive Vice President of Daitan Group, will cover implementation examples that have enabled ea...
Sep. 29, 2016 02:00 AM EDT Reads: 1,589
SYS-CON Events announced today that Numerex Corp, a leading provider of managed enterprise solutions enabling the Internet of Things (IoT), will exhibit at the 19th International Cloud Expo | @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Numerex Corp. (NASDAQ:NMRX) is a leading provider of managed enterprise solutions enabling the Internet of Things (IoT). The Company's solutions produce new revenue streams or create operating...
Sep. 29, 2016 01:45 AM EDT Reads: 2,057
DevOps and microservices are permeating software engineering teams broadly, whether these teams are in pure software shops but happen to run a business, such Uber and Airbnb, or in companies that rely heavily on software to run more traditional business, such as financial firms or high-end manufacturers.
Microservices and DevOps have created software development and therefore business speed and agility benefits, but they have also created problems; specifically, they have created software sec...
Sep. 29, 2016 01:45 AM EDT Reads: 1,329
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not.
In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Sep. 29, 2016 01:00 AM EDT Reads: 2,302
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Tintri VM-aware storage is the simplest for virtualized applications and cloud. Organizations including GE, Toyota, United Healthcare, NASA and 6 of the Fortune 15 have said “No to LUNs.” With Tintri they mana...
Sep. 29, 2016 12:00 AM EDT Reads: 2,934
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively.
What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
Sep. 28, 2016 11:30 PM EDT Reads: 2,731
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Sep. 28, 2016 11:30 PM EDT Reads: 3,960
Kubernetes is a new and revolutionary open-sourced system for managing containers across multiple hosts in a cluster. Ansible is a simple IT automation tool for just about any requirement for reproducible environments.
In his session at @DevOpsSummit at 18th Cloud Expo, Patrick Galbraith, a principal engineer at HPE, discussed how to build a fully functional Kubernetes cluster on a number of virtual machines or bare-metal hosts. Also included will be a brief demonstration of running a Galera M...
Sep. 28, 2016 10:30 PM EDT Reads: 3,066
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
Sep. 28, 2016 09:15 PM EDT Reads: 368