Coca-Cola Co. has reportedly stopped talks with Chobani after deciding the US yoghurt maker did not fit its portfolio.
Reuters, citing unnamed sources, said Coke had ended discussions to invest in Chobani, which has been weighing up expressions of interest from suitors wanting to invest in the business. CNBC also reported Coke was not exploring a stake in Chobani, which has driven the growth of the Greek yoghurt category in the US.
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A spokesperson for Coke declined to comment when contacted by just-food. "We do not comment on speculation or rumour," the spokesperson said.
Among the companies eyeing Chobani is WhiteWave Foods, the US group behind Silk and Alpro soy milk, Reuters said. WhiteWave refused to be drawn on the report. "We don't comment or speculate on industry rumours," a spokesperson for WhiteWave said.
Earlier this week, the news agency reported Coke and PepsiCo were in the group interested in investing in Chobani and had engaged in talks with the company.
PepsiCo declined to comment on that report when contacted by just-food.
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By GlobalDataChobani is looking to sell 10-20% of the business, including warrants owned by private-equity group TPG Capital, Reuters reported.
The yoghurt maker last year secured investment of US$750m TPG to "fund future growth".
PepsiCo and Coca-Cola have dabbled in the dairy sector. Through a venture with German dairy group Muller, PepsiCo sells yoghurts in the US.
Coca-Cola produces its dairy products in partnership with dairy firm Select Milk Producers. The two companies teamed up in 2012 to form Fair Oaks Farms Brands, which controls the Core Power protein milk shake brand. Last year, Coca-Cola launched Fairlife "ultra-filtered" milk across the US.
