Chobani, the Greek yogurt maker, is reportedly working with Bank of America to sell up to 20 percent of its stake, a deal which could value the company at around $2.5 billion, according to Reuters.
The New Berlin, N.Y.-based company is communicating with consumer companies, private equity firms and other potential investors to measure possible interest from buyers willing to obtain about one-fifth stake in the company, said sources familiar with the matter in the report on Monday.
USA Today denied claims that the company reportedly considered an initial public offering.
The company has had a few hard months in sales. In December, Whole Foods Market Inc. announced that they would no longer be selling Chobani yogurts starting early this year. As an alternative it would sell more non-GMO, organic and niche yogurts.
Last September, Chobani removed some of their Greek yogurt products from supermarket shelves after reports of "swelling or bloating" in cups. At least 100 people reported becoming ill after eating the product. However, it was not confirmed that the illnesses were connected to the yogurt.
Chobani's sales grew more than 30 percent to $1 billion in 2013. The company was founded in 2005 by Turkish immigrant Hamdi Ulukaya and started off operating from a former Kraft Food yogurt plant in South Edmeston, New York.
Reuters noted that Chobani, which competes with General Mills' Yoplait as well as Oikos from Danone, did not respond to any comments.
