Chobani announced it has received a $750 million investment from private equity firm TPG that will help the New Berlin, New York-based company ease liquidity issued encountered from opening its $450 million yogurt manufacturing facility in Idaho. The investment from TPG comes with warrants that could grant the firm up to a 35% stake in Chobani in the future. Chobani was formed in 2005 by Hamdi Ulukaya operating from a former Kraft Foods yogurt plant. Its Greek yogurt quickly became one of the top selling brands in the U.S. with revenues exceeding $1 billion in 2013. Greek yogurt now accounts for 40% of the U.S. yogurt market worth $7.4 billion according to Mintel.
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