Chobani Announces $775 Million Private Offering of Senior Notes

NEW BERLIN, N.Y., April 9, 2026 /PRNewswire/ -- Chobani, LLC (the "Company" and, together with Chobani Finance Corporation, Inc., "Chobani"), tomorrow's food and beverage company that strives to deliver consistent, profitable growth by making high-quality, nutritious, and delicious food accessible to all while positively impacting communities and the world, today announced a private placement offering (the "offering") of $775 million in aggregate principal amount of Chobani's newly issued senior notes (the "notes"). The notes will be guaranteed on a senior unsecured basis by the Company's immediate parent company, Chobani Global Holdings, LLC (the "Parent Guarantor") and by each of the Parent Guarantor's direct and indirect domestic subsidiaries, to the extent such entities are borrowers or guarantors under the Company's first lien credit agreement or certain capital markets debt. Completion of the offering is subject to, among other things, pricing and standard closing and market conditions.

Chobani intends to use the net proceeds from the offering to pay a dividend, and repay its promissory note (including accrued interest), to Chobani Parent, LLC ("Chobani Parent"), an indirect parent of Chobani, which intends to use the funds, together with cash on hand, to redeem all of the 8.750% / 9.500% Senior PIK Toggle Notes due 2029 (the "PIK notes") of Chobani Holdco II, LLC, a subsidiary of Chobani Parent and an indirect parent of Chobani, and to pay related fees and expenses. Any remaining net proceeds from the offering will be used for general corporate purposes.

The notes will be Chobani's senior debt and will rank: equally in right of payment with its and the guarantors' existing and future senior debt, including under their credit facilities; senior in right of payment to any of Chobani's or the guarantors' future subordinated debt; effectively subordinated to all of Chobani's and the guarantors' existing and future secured indebtedness, including their credit facilities, to the extent of the value of the collateral securing such indebtedness; and structurally subordinated to all existing and future indebtedness and other claims and liabilities, including preferred stock, of Chobani's subsidiaries that will not guarantee the notes.

The notes to be offered will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or any other state securities laws. As a result, they may not be offered or sold in the United States or to any U.S. persons, except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Accordingly, the notes will be offered only to persons reasonably believed to be "qualified institutional buyers" under Rule 144A of the Securities Act or, outside the United States, to persons other than "U.S. persons" in compliance with Regulation S under the Securities Act. A confidential offering memorandum for the notes will be made available to such eligible persons. The offering will be conducted in accordance with the terms and subject to the conditions set forth in such offering memorandum.

This news release is neither an offer to sell nor a solicitation of an offer to buy, nor shall there be any sale of, these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. This news release does not constitute a notice of redemption of the PIK notes.

Cautionary Statement

Certain statements contained herein are "forward-looking statements" within the meaning of applicable securities laws and regulations. These forward-looking statements can generally be identified by the use of words such as "believe," "intend," "may," "will," "would," "shall," and similar words. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements regarding the offering, the ability to complete the offering, and other statements that are not historical fact. Particular uncertainties that could cause the Company's actual results to be materially different than those expressed in the Company's forward-looking statements include, but are not limited to, the factors disclosed under "Special Note Regarding Forward-Looking Statements" and "Risk Factors" in Chobani's offering memorandum.

About Chobani

Chobani is a food maker with a mission of making high-quality and nutritious food accessible to more people, while elevating our communities and making the world a healthier place. In short: making good food for all. In support of this mission, Chobani is a purpose-driven, people-first, food-and-wellness-focused company, and has been since its founding in 2005 by Hamdi Ulukaya, an immigrant to the U.S. The Company manufactures yogurt, oat milk, and creamers – Chobani yogurt is America's No.1 yogurt brand, made with natural ingredients without artificial preservatives. Following the 2023 acquisition of La Colombe, a leading coffee roaster with a shared commitment to quality, craftmanship and impact, the Company began selling cold-pressed espresso and lattes on tap at cafés nationwide, as well as Ready to Drink (RTD) coffee beverages at retail. In 2025, Chobani acquired Daily Harvest, a modern brand offering consumers nutritious, delicious and convenient ready-to-make meals.

Chobani uses food as a force for good in the world – putting humanity first in everything it does. The Company's philanthropic efforts prioritize giving back to its communities and beyond. Chobani manufactures its products in New York, Idaho, Michigan, Philadelphia and Australia, and its products are available throughout North America and distributed in Australia and other select markets.

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SOURCE Chobani, LLC