US-based yogurt maker Chobani is planning to enter the beverages segment with Drink Chobani line, after it turned down acquisition offer from PepsiCo.
With this new drink range, which will be a blend of fruits with its trademark Greek yogurt, the company intends to pit itself against new competitors while diversifying into newer segments of supermarket.
The new beverage will feature real fruit and probiotics, positioning it as an easy-to-drink option for on-the-go consumers.
Treading a new path with the drink, Chobani plans to offer a smooth and simple yogurt drink featuring flavors such as Mixed Berry, Strawberry Banana, Apple Cucumber Spinach, and Mango.
Beginning July 2016, the drink will be available at grocery and retail stores across the US.
The company is also introducing a line of savory dips along with its new beverage line. The savory dips named Chobani Meze dips will be a combination of vegetables, herbs and spices.
Chobani's founder Hamdi Ulukaya is determined to prove that the company can successfully function independently after it rejected offer from PepsiCo, which had offered to acquire the yogurt maker last year.
Chobani was seeking to forgo only a minority stake in its business in order to raise funds to help expand its production and distribution. It had also intended to foray into new segments such as dips.
In order to seek a partner, Chobani had even hired Goldman Sachs Group. At the time, Chobani was having a tough time handling its expansion plans, which included a large factory in Idaho.
On rejecting PepsiCo's offer, the company was cited by Reuters as saying that it's "independence was a key asset to the company and the brand".
In the first five years of its inception, Chobani's sales grew to $1bn. In 2014, Hamdi Ulukaya received $750m from private equity firm TPG in exchange for preferred stock which helped ease the cash crunch.
Chobani is now able to self-fund expansion of its Flip yogurt brand and is also entering into the Mexican market.
