NEW YORK – Chobani, the Greek yogurt maker that has grown into a U.S. sensation, is looking to sell a minority stake in a deal that could value the company at around $2.5 billion, people familiar with the matter said.
The company is working with Bank of America Corp as it considers selling roughly 20 percent, and is speaking to consumer companies and private equity firms to gauge their interest, the people said on Monday.
Chobani, based in New Berlin, New York, previously held discussions with banks about pursuing an initial public offering, but switched gears in the face of mounting competition from other Greek yogurt companies, the people said.
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