Keurig Dr Pepper to Sell Chobani Stake for $800 Million, Allentown Facilities for $125 Million

08:08 AM EDT, 09/01/2026 (MT Newswires) -- Keurig Dr Pepper (KDP) agreed to sell its full equity stake in Chobani back to the company for $800 million and its manufacturing and warehouse facilities in Allentown, Pennsylvania, for approximately $125 million, the company said Tuesday. The Allentown site includes the facility lease, equipment and operations. Chobani plans to offer employment to manufacturing and warehouse employees, while employees in delivery, customer service and other corporate functions will remain with Keurig Dr Pepper, the company said. Chobani will continue to manufacture certain products for KDP at the Allentown facility for a specified period following the sale under a co-manufacturing agreement. Keurig Dr Pepper plans to use the net proceeds from the transactions to reduce debt, it said. The companies also agreed to update and broaden 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. The companies will also continue their licensing, manufacturing and distribution agreement for La Colombe-branded K-Cup pods in the US and Canada. The transactions are expected to close in the third quarter.