Keurig Dr Pepper said it will receive $925 million in pre-tax proceeds from a pair of transactions with Chobani, including the sale of its minority stake in Chobani for $800 million and the sale of its Allentown, Pennsylvania manufacturing facility and warehouse for about $125 million.
The company said it plans to use the proceeds to reduce debt.
The deal also reshapes a commercial relationship that already tied the two companies together. Keurig Dr Pepper will continue distributing La Colombe ready-to-drink lattes and other Chobani-owned beverage products through its direct store delivery network, including future ready-to-drink products. It will also keep handling La Colombe-branded K-Cup pods in the U.S. and Canada.
On the asset side, Chobani is taking over the Allentown site, including the facility lease, equipment and operations. Chobani said it expects to offer jobs to the plant’s manufacturing and warehouse employees, while delivery, customer service and other corporate functions will remain with Keurig Dr Pepper. The companies said Chobani will continue making certain products for Keurig Dr Pepper at the site for a period after closing.
The transactions are expected to close in the third quarter of 2026. Today the company's shares have moved 0.93% to a price of $32.155. If you want to know more, read the company's complete 8-K report here.
