Keurig Dr Pepper to sell back Chobani stake, manufacturing site for $925 million

(Corrects headline and ‌paragraph 1 ​to ​clarify the $925 million proceeds includes Keurig's stake in Chobani as well as ‌a manufacturing facility)

Sept 1 (Reuters) - Keurig Dr Pepper ⁠said on Tuesday it would sell its stake in ‌Chobani back to the ‌yogurt maker along with a manufacturing facility for $925 million, as the beverage company reshapes ​its business following its acquisition of JDE Peet's.

Here are some details:

• Keurig will sell ⁠its entire equity stake in Chobani for $800 million, and a ​manufacturing facility and warehouse in Allentown, Pennsylvania, for $125 million.

• The company has been ​reshaping its portfolio since its $18 ‌billion acquisition of Dutch coffee and tea maker JDE Peet's in April.

• It is ⁠also preparing to separate its coffee and beverage operations into two publicly traded U.S. companies.

• Chobani ⁠said it would invest about $1.2 billion over the next ​five years in the facility, as it seeks to create milk with more protein and less sugar than ‌traditional milk.

• Last month, Keurig Dr Pepper maintained its annual forecasts after ‌strong demand for its soda and energy ⁠drink brands helped ‌it beat second-quarter ​sales and profit estimates.

(Reporting by Neil J Kanatt in Bengaluru; Editing by Leroy ‌Leo)

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