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Hamdi Ulakaya Backed La Colombe considers selling a stake in the Philly-based coffee company

La Colombe, the premium coffee brand backed by billionaire yogurt mogul Hamdi Ulukaya, has hired Moelis & Co. to explore fundraising options, including the sale of a stake in the company.
The company is seeking a valuation north of $1 billion and is open to selling a minority or majority stake, according to a person familiar with the matter. La Colombe may also decide to take on outside investors in a bid to fuel growth, said the person, who asked not to be identified because the deliberations are private.

Backed By Chobani's Founder, A Local Coffee Chain Tries To Revolutionize The Industry

Arriving in Philadelphia with few possessions and little money, Todd Carmichael started walking the city with business partner JP Iberti to scope out storefronts. In short order, they took on a 50-year lease in a bustling downtown neighborhood, renovated the space themselves and, in May 1994, opened the first La Colombe café. La Colombe Coffee Roasters, with 750 employees, now runs 26 cafés in five cities, distributes its coffee to some 3,500 restaurants, hotels, cafés and retailers and operates an online store. The company says revenue is approaching $100 million. Following a 2015 capital infusion from Chobani LLC Chairman and CEO Hamdi Ulukaya, the company early this year introduced its canned, chilled Draft Latte line nationally, quickly becoming a force in the U.S. ready-to-drink coffee category.

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