|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
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
May. 31, 2016 09:45 PM EDT Reads: 903
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and ...
May. 31, 2016 09:15 PM EDT Reads: 1,017
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical...
May. 31, 2016 09:00 PM EDT Reads: 2,083
18th Cloud Expo, taking place June 7-9, 2016, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some...
May. 31, 2016 09:00 PM EDT Reads: 3,334
How will your company move to the cloud while ensuring a solid security posture? Organizations from small to large are increasingly adopting cloud solutions to deliver essential business services at a much lower cost. According to cyber security experts, the frequency and severity of cyber-attacks are on the rise, causing alarm to businesses and customers across a variety of industries. To defend against exploits like these, a company must adopt a comprehensive security defense strategy that is ...
May. 31, 2016 08:45 PM EDT Reads: 989
@DevOpsSummit taking place June 7-9, 2016 at Javits Center, New York City, and Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 18th International @CloudExpo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world.
May. 31, 2016 08:45 PM EDT Reads: 3,258
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed...
May. 31, 2016 08:30 PM EDT Reads: 2,230
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.
May. 31, 2016 08:30 PM EDT Reads: 1,246
SYS-CON Events announced today that EastBanc Technologies will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. EastBanc Technologies has been working at the frontier of technology since 1999. Today, the firm provides full-lifecycle software development delivering flexible technology solutions that seamlessly integrate with existing systems – whether on premise or cloud. EastBanc Technologies partners with p...
May. 31, 2016 08:00 PM EDT Reads: 2,509
SYS-CON Events announced today that IBM Cloud Data Services has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. IBM Cloud Data Services offers a portfolio of integrated, best-of-breed cloud data services for developers focused on mobile computing and analytics use cases.
May. 31, 2016 07:15 PM EDT Reads: 1,807
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
May. 31, 2016 07:15 PM EDT Reads: 1,913
We’ve been doing it for years, decades for some. How many websites have you created accounts on? Your bank, your credit card companies, social media sites, hotels and travel sites, online shopping sites, and that’s just the start. We do it often without even thinking about it, quickly entering our personal information, our data, in a plethora of systems. Sometimes we’re not even aware of the information we are providing. It could be very personal information (think of the security questions you ...
May. 31, 2016 06:45 PM EDT Reads: 1,168
In today's enterprise, digital transformation represents organizational change even more so than technology change, as customer preferences and behavior drive end-to-end transformation across lines of business as well as IT. To capitalize on the ubiquitous disruption driving this transformation, companies must be able to innovate at an increasingly rapid pace. Traditional approaches for driving innovation are now woefully inadequate for keeping up with the breadth of disruption and change facin...
May. 31, 2016 05:45 PM EDT Reads: 1,793
As machines are increasingly connected to the internet, it’s becoming easier to discover the numerous ways Industrial IoT (IIoT) is helping to shape the business world. This is exactly why we have decided to take a closer look at this pervasive movement and to examine the desire to connect more things! Now if you need a refresher on IIoT and how it is changing the world, take a moment and listen to Greg Gorbach with ARC Advisory Group. Gorbach believes, "IIoT will significantly change the worl...
May. 31, 2016 05:00 PM EDT Reads: 2,152
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, will discuss the importance of WebRTC and how it enables companies to fo...
May. 31, 2016 04:45 PM EDT Reads: 2,667