The Greek yogurt maker Chobani is parting ways with TPG — the private equity firm that gave the company a financial lifeline in 2014 — and bringing on a new investor, the Healthcare of Ontario Pension Plan.
TPG, which lent Chobani $750 million four years ago through its private equity and credit funds and received warrants that could have converted into a 25 to 35 percent stake in the company, will leave with a handsome profit but no remaining stake in the yogurt maker.
The Healthcare of Ontario Pension Plan (Hoopp Capital Partners) will receive a 20 percent position in Chobani. Financial terms of the deal were not disclosed.
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