Greek Yogurt Maker Chobani Looks To Sell Stake At $2.5 Billion Valuation
The New Berlin, New York-based company is working with Bank of America Corp
Chobani previously held discussions with banks about pursuing an initial public offering, but switched gears after its growth began to slow in the face of mounting competition from other Greek yogurt companies, the people said.
The people declined to be named because the matter is not public. Representatives for Chobani did not immediately respond to requests for comment, while Bank of America declined to comment.
Founded in 2005 by Turkish immigrant Hamdi Ulukaya, Chobani started out of a former Kraft Food Groups Inc
(Reporting by Olivia Oran in New York, Editing by Soyoung Kim and Lisa Shumaker)
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