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Coca-Cola No Longer in Talks to Invest in Chobani: Reports

The Coca-Cola Company KO has pulled out of the negotiations regarding an investment in Greek yogurt maker, Chobani, according to latest reports.

On Monday, it was reported that PepsiCo, Inc. PEP and Coca-Cola are fighting to buy a stake in Chobani. Coca-Cola believes that the yogurt maker will not be a strategic fit for its portfolio, reported Reuters citing sources familiar with the matter.

Chobani was founded by its current CEO, Hamdi Ulukaya, in 2005. The company uses only natural ingredients to make Greek yogurts. The company’s first Greek yogurt cup was launched in 2007.

The investment could reportedly value Chobani at as much as $3 billion. According to reports, Chobani is looking to sell a minority stake to expand its supply chain and geographical reach of its new products. Other companies apart from Pepsi and Coca-Cola are also reportedly...