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Chobani plans for growth

Private equity firm TPG Capital is loaning $750 million to New York-based Chobani Yogurt company. TPG gets a couple of seats on the Chobani board but founder Hamdi Ulukaya retains majority ownership and the chair of the board.

There has been speculation that Chobani is considering going public, TPG has expertise in initial public offerings (IPOs). Should that happen, the TPG loan could be converted to equity in the company.

The money will be used to fund the launch of a number of new products this summer as well as international expansion. Chobani recently announced a $3.5 million expansion of their Twin Falls, Idaho plant. The company is currently shipping yogurt from that plant into Central America with plans to add South America.

Just over a year ago they built a $30 million plant in Australia. In the last year that facility has gone from producing 25,000 cases a week to 25,000 cases a day and is now shipping yogurt from that plant to Singapore.