Legal News

Yogurt Giant Chobani Secures $750 Million Investment from TPG Equity Firm
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Chobani announced Wednesday that it has secured a $750 million investment from private equity firm TPG Capital. Chobani is the leader in Greek-style yogurt in the United States. It’s revenue is more than $1 billion last year. According to Dealbook, the six potential investors showed interest in doing a deal with the company, whose upstate New York production plants have been a boon to the regional economy. TPG is receiving warrants that could convert into an equity stake worth as much as 35 percent in the yogurt maker if it achieves certain milestones, such as an initial public offering or other sale. TPG’s investment is being packaged as a second-lien loan, putting the private equity firm behind other creditors in case of a default.

The team of Kirkland & Ellis led by corporate partners Michael Movsovich and Constantine Skavelis, debt finance partner Andres Mena represented Chobani in the contract. Hamdi Ulukaya, Chobani’s founder brought Kirkland on in October 2012 to protect him against a suit brought by his former wife, who claimed ownership of a large share of the company. Earlier this month his ex-wife accused him of stealing his yogurt recipe from rival Fage. Ropes & Gray represented TPG. The Ropes team included private equity partners Carl P. Marcellino and R. Newcomb Stillwell and debt finance partner Alyson Allen.

  
What
Where


 

Image Credit: just-food.com

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!






 

RELEVANT JOBS

Litigation Attorney

USA-NY-Riverhead

Responsibilities The candidate should be able to independently manage own caseload through all ph...

Apply now

Sr. Trial Attorney

USA-CA-Glendale

Bodily Injury Auto, Bodily Injury Commercial, Bodily Injury Homeowners, Commercial Auto, Commercial ...

Apply now

Landlord Tenant Counsel (Corporate)

USA-MD-College Park

WHAT WE ARE LOOKING FOR: This position advises executive, senior management and managers on various...

Apply now

Attorney with 1+ year experience - Position is in Probate Law

USA-TX-Richardson

Looking for an associate attorney with at least one year of experience.  We are a boutique prob...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Business and Transactional Associate Attorney

USA-CT-Middletown

Middletown office of a BCG Attorney Search Top Ranked Law Firm seeks business and transactional asso...

Apply Now

Business and Transactional Associate Attorney

USA-CT-Hartford

Hartford office of a BCG Attorney Search Top Ranked Law Firm seeks business and transactional associ...

Apply Now

Business and Transactional Associate Attorney

USA-CT-East Haven

East Haven office of a BCG Attorney Search Top Ranked Law Firm seeks business and transactional asso...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top