Greek yogurt manufacturer Chobani has rejected an offer from global beverage company PepsiCo which sought a stake in the company. Chobani was approached by several parties in 2015, ultimately opting to work with Goldman Sachs to mull over the potential sale.
According to Reuters, the deal was called off in part because of PepsiCo’s terms. The beverage giant sought a majority stake in the company while Chobani was looking to sell a minority stake—reportedly about 20 percent.