After watching the success of Chobani and Fage, PepsiCo seeks opportunity for itself.
Chobani, the Greek yogurt maker created by Hamdi Ulukaya, has already garnered plenty of attention for its fresh approach to yogurt--and its $600 million in sales.
Now it seems some big rivals have been paying attention.
After watching Chobani and Fage carve out niches of the roughly $7 billion U.S. yogurt market--traditionally dominated by Dannon and Yoplait--PepsiCo is about to join the fray in the Northeast and mid-Atlantic states through a partnership with Theo Muller, the New York Times reports.
With PepsiCo seeking to diversify further beyond soda and chips, the two companies are investing $206 million in a Batavia, New York, plant, which will employ 180 people and produce 5 billion cups of yogurt a year, reports the Times.
The Muller by Quaker yogurts will come in conventional and Greek varieties, in untraditional square packaging with mix-ins such as chocolate, granola, and caramelized almonds, in addition to more common fruit flavors, the paper reports.
CAITLIN BERENS writes about business innovation and entrepreneurs. Before Inc., she worked at Billboard, SELF, and Better Homes and Gardens. She attended Drake University, and lives in Brooklyn, New York. @CaitlinBerens