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Chobani has acquired US coffee company La Colombe for $900 million. La Colombe serves consumers across multiple channels including retail, cafes, foodservice and direct-to-consumer. Chobani funded the acquisition through the combination of a newly issued $550 million term loan, and exchanging Keurig Dr Pepper's (KDP) minority equity stake in La Colombe for Chobani equity. In July, KDP took a 33% stake in La Colombe for $300 million. KDP continue to sell and distribute La Colombe’s ready-to-drink coffee products. Under Chobani's ownership, La Colombe will leverage the company's retail execution, marketing and cold chain capabilities to grow its multi-serve offering. Additionally, through a recently announced sales and distribution agreement with KDP, La Colombe aims to significantly expand the reach of its single-serve product line and tap into underdeveloped channels. La Colombe will continue to operate as an independent brand within Chobani, ensuring "collaboration and knowledge sharing between the two companies while preserving the identity and innovation for which La Colombe is known," the company said in a statement. La Colombe's offerings will complement its yogurt portfolio and food innovations, including oat milk and creamer. Chobani's founder and CEO, Hamdi Ulukaya, said: "At a time where the industry has faced challenges to grow sales, Chobani has delivered double-digit, volume-led sales growth and considerable margin expansion". "We have never been stronger or better positioned to chart our next chapter of growth. We've already made an investment in the coffee category with our creamers and are excited about bringing La Colombe into the Chobani family and offering the delicious, high-quality cold brew and ready-to-drink craftsmanship of La Colombe to the next generation of consumers powered by a strong distribution partner in KDP." KDP's chairman and CEO, Bob Gamgort, added: "La Colombe is a unique brand and well positioned to continue its strong growth trajectory, including upside as its ready-to-drink line expands availability through our company-owned DSD network and with premium K-Cup pods now in the market. Both as a strategic partner and a minority shareholder, we are excited by the path ahead."