On June 27, 2018, Healthcare of Ontario Pension Plan (HOOPP), one of the largest defined benefit pension plans in Canada, acquired a minority equity investment in Chobani, a U.S. yogurt manufacturer, in a transaction led by HOOPP Capital Partners, HOOPP’s private capital investment team. Terms of the deal were not disclosed, though HOOPP will be given one board seat as part of its investment.
The investment from HOOPP will help support Chobani as it continues to lead innovation in the yogurt category and focus on nutritional and social wellness.
Chobani is the New York-based maker of America's No. 1–selling Greek Yogurt brand and the second largest yogurt manufacturer in the U.S.
HOOPP is a Toronto-based multi-employer contributory defined benefit plan for Ontario's hospital and community-based healthcare sector with 548 participating employers. HOOPP's membership includes nurses, medical technicians, food services staff and housekeeping staff, and many other people who work hard to provide valued Ontario healthcare services. In total, HOOPP has more than 339,000 active, deferred and retired members.
Osler, Hoskin & Harcourt LLP represented HOOPP with a team led by Terry Burgoyne that included Marc Kushner and Alix Morse (Corporate), and Paul Seraganian, Jen Lee, Julie Geng (Tax) and Kevin Colan (Tax Counsel).