Chobani, a maker of Greek yogurt, secured a $750m investment.
Backers included TPG Capital, a global private investment firm and TPG Opportunities Partners, its dedicated credit platform. As part of the transaction, TPG will have representation on the Board of Directors.
The company intends to use the proceeds for growth, expansion and innovation.
Founded in 2005 by Hamdi Ulukaya, Chief Executive Officer and Chairman, Chobani makes its products (Chobani® Greek Yogurt, Chobani Flip™ and Chobani Simply 100™) in New Berlin, New York, and at its production facility in Twin Falls, Idaho. It uses milk from local-area farms and gives 10% of its annual profits to charities worldwide, including through the Chobani Foundation.
The company’s 2013 revenues exceeded $1 billion with products available nationwide in the U.S., Australia and in countries in Asia and Latin America.