Chobani has reportedly reached a distribution deal with PepsiCo for some of its new beverages and other products that is a possible precursor to an initial public offering.
According to Bloomberg, PepsiCo will distribute Chobani beverages, including its new cold-brew coffees, to convenience stores and universities in the Northeast starting this month. This will be a pilot program and a precursor to a potential wider deal. Chobani refused a takeover bid by PepsiCo in 2016.
“Teaming up with PepsiCo accelerates Chobani’s mission,” founder and CEO Hamdi Ulukaya said in a statement.
Chobani has been preparing for an IPO later this year that could net as much as $10 billion.