Pepsi, Coke competing for investment in Greek yogurt maker

New York

PEPSICO Inc and Coca-Cola Co are in talks to invest in Chobani LLC, in a deal that the Greek yogurt maker hopes could value it at as much US$3 billion, including debt, according to people familiar with the matter.

The negotiations illustrate how soft drink giants are making a push to diversify beyond the slow-growth carbonated beverage sector into the US consumer market's faster-growing healthy lifestyle segment.