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Cocoa Cola Not Interested In Investing In Chobani

Coca Cola Co has ended talks to invest in Chobani LLC, a Greek yogurt maker, after coming the decision that the company was not the best fit for its portfolio. Coca Cola and PepsiCo Inc were competing to invest in Chobani.

Chobani is looking to land on a deal that would value it at as much as $3 billion, including debt.

Chobani is looking to sell a minority stake, including warrants by TPG Capital LP, a private equity firm, which accounts for between 10% and 20% of the yogurt maker’s equity based on its financial performance. The firm is looking for a investor to help expand its supply chain, distribution, manufacturing base and geographic footprint for its Flip yogurts.