US-based yoghurt and creamers maker Chobani has bought local frozen-foods business Daily Harvest.
In a joint statement sent to Just Food, the companies said the deal, struck for an undisclosed sum, marked Chobani’s “entry into wholesome, ready-to-make meals”.
Founded in 2015, Daily Harvest sells frozen, single-serve products, including smoothies, breakfast bowls and savoury meals.
Set up as a direct-to-consumer business, Daily Harvest still sells products through its website but also through retailers including Target, Kroger and Wegmans.
In 2017, it secured an investment from movie star Gwyneth Paltrow and tennis champion Serena Williams.
In their statement, Chobani and Daily Harvest said they “are united by a shared vision: to make high-quality, delicious food with real ingredients more accessible”.
They added: "With Chobani's world-class manufacturing, distribution and retail expertise, our goal is for Daily Harvest to reach every home in America."
Just Food asked Chobani for more details on the deal, including how much the company paid, how many staff are joining the business and where it sees the best growth opportunities for its new asset.
In a post on LinkedIn, Rachel Drori, Daily Harvest's founder and executive chair, said: “Chobani is the perfect home for Daily Harvest – our missions align so deeply, and we couldn’t be more excited to continue growing together.”
In a blog post, Daily Harvest reassured customers "all the things you love will stay the same” including its products, website and “care team”.
The acquisition follows Chobani’s recent investments in production.
Last month, the company announced a $1.2bn investment in a new 1.4 million square foot production facility in Rome, a city in Oneida County, New York.
The plant, Chobani’s third in the US, will house up to 28 production lines and process around 12 million pounds of milk daily.
In March, Chobani announced a $500m expansion project at its facility in Twin Falls, Idaho. The company plans to add over 500,000ft2 to the site, which produces Chobani yoghurt, oat milk and coffee creamers. The investment is set to increase production capacity by 50%.
The deal for Daily Harvest is Chobani's latest move to broaden its product portfolio via M&A. In December, the company acquired US coffee business La Colombe for $900m.
"Chobani acquires US frozen-foods maker Daily Harvest" was originally created and published by Just Food, a GlobalData owned brand.
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