Yasso, known for Greek yogurt treat on a stick, seeks buyer: sources

Yasso Inc, which is known for its Greek yogurt bars, is going up for sale, two sources said.

Yasso has hired Piper Jaffray to run the auction, the people said. Yasso generates $7 million in EBITDA and could sell for $150 million, one source said. “It’s growing rapidly,” another said.

Private equity is expected to bid for Yasso but the auction is initially targeting only strategics, the second source said. If a strategic doesn’t pay or get to the value Yasso wants, the company will likely open up the process to financial sponsors, the second person said.

“Most people expect [Yasso] to go to a trade buyer,” the second person said.

Yasso, Quincy, Massachusetts, calls itself “Dessert Disruptors.” The company sells frozen Greek yogurt on a stick in flavors like chocolate chip, cinnamon bun and cookies ’n cream. Most of the bars have only 100 calories and 16 grams of carbohydrates. (Sea Salt Caramel and Toffee Crunch each have 150 calories and 16 grams of carbs.)

Two childhood friends, Drew Harrington and Amanda Klane, launched the company in 2009, Bloomberg reported in August. Yasso is expected to end 2016 with more than $50 million in sales, the story said.

Yasso and Piper Jaffray could not immediately be reached for comment.

Action Item: Contact Yasso: +1 617-845-5049.

Photo courtesy of Yasso Inc