$KDP (KEURIG DR PEPPER) — 8-K: KDP sells Chobani stake and Allentown plant for $925 million pre-tax to cut debt

Keurig Dr Pepper will sell its full equity stake in Chobani back to the company for $800 million. In a related transaction, Chobani will acquire KDP’s Allentown, Pennsylvania manufacturing facility and warehouse for approximately $125 million. KDP intends to use net proceeds to reduce debt. The companies are also expanding their distribution agreement, with KDP continuing to distribute La Colombe ready-to-drink lattes and other Chobani-owned beverage products through its direct store delivery network.

Keurig Dr Pepper will sell its full equity stake in Chobani back to the company for $800 million. In a related transaction, Chobani will acquire KDP’s Allentown, Pennsylvania manufacturing facility and warehouse for approximately $125 million. KDP intends to use net proceeds to reduce debt. The companies are also expanding their distribution agreement, with KDP continuing to distribute La Colombe ready-to-drink lattes and other Chobani-owned beverage products through its direct store delivery network.