Chobani buys plant-based food maker Daily Harvest
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Chobani is buying plant-based food maker Daily Harvest as the Greek yogurt giant expands its reach into ready-to-make meals. Terms of the deal were not disclosed.
Daily Harvest was founded a decade ago, becoming one of the first businesses to ship clean, nutritious food directly to customers' doorsteps. Since then, the company has expanded its portfolio to include meals and snacks that are available online and in retail.
Chobani said it aims to use its 'world-class manufacturing, distribution, and retail expertise' to get Daily Harvest into more U.S. homes.
'These two purpose-led brands are united by a shared vision: to make high-quality, delicious food made with real ingredients more accessible,' Chobani and Daily Harvest said in a statement.
While Chobani's roots are in yogurt, the New York-based company has set out to broaden its portfolio through internal innovation and by looking for acquisitions. It developed its own oat milk and creamers before spending $900 million in 2023 to purchase ready-to-drink coffee manufacturer La Colombe.
The addition of Daily Harvest, which makes organic smoothies, breakfast bowls, protein powders and frozen meals, will significantly broaden Chobani's mission of becoming a more well-rounded food company.
Chobani will not only add new healthy food products to the mix but also give shoppers more items to choose from, increasing opportunities to keep consumers in its portfolio throughout the day.
A consumer could have one of Chobani's yogurts and a La Colombe coffee with a Chobani creamer in the morning, before transitioning to a Daily Harvest protein smoothie, pasta or vegetable dish later in the day.
The purchase also gives Chobani a presence for the first time in the multi-billion frozen section of the grocery store, moving the brand beyond its long-time home in the dairy aisle.
Despite efforts to increase its exposure beyond dairy, Chobani hasn't forgotten about the segment closely associated with the company.
In April, Chobani announced it would spend $1.2 billion to build a dairy processing plant in upstate New York, the largest facility investment by the company in its history. The investment came a month after Chobani announced it was spending $500 million to expand production by 50% at its facility in Twin Falls, Idaho.
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