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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