Hold onto your oat milk lattes, folks!
Yogurt behemoth Chobani just scooped up Philly's favorite coffee roaster, La Colombe, for a cool $900 million. That's like buying enough cold brew to fill the Liberty Bell... twice!
This isn't Chobani's first caffeine flirtation. Back in 2015, CEO Hamdi Ulukaya snagged a major stake in La Colombe, clearly having a taste for those perfectly roasted beans. Now, he's gone full beans-to-riches, bringing La Colombe under the Chobani umbrella.
But this wasn't a cash-only deal, oh no. It's like a corporate smoothie bowl, with layers of financing. Chobani whipped up a new $550 million loan, threw in some spare change from the couch, and even swapped Keurig Dr Pepper's La Colombe shares for a slice of Chobani pie. (Yes, Keurig, the soda and coffee giant, had a piece of La Colombe too. Think of it as a caffeine ménage à trois.)
Speaking of Keurig, they're not going anywhere just yet. Their distribution deal with La Colombe is sticking around, so those fancy canned lattes will still be gracing your office fridge.
So, what does this mean for us coffee-guzzling millennials? Well, buckle up for a potential Chobani-La Colombe latte revolution! Imagine Chobani's creamy Greek yogurt swirling with La Colombe's bold cold brew... it's a match made in brunch heaven.