Chobani confidentiality files for IPO valued about $10B in U.S.


On Wednesday, a person familiar with the matter told news agency Reuters that Chobani had confidentially filed the paperwork for an Initial public offering (IPO) at the Securities and Exchange Commission in New York. The Greek-yogurt food manufacturer makes a whole range of food products which are popular in the U.S. and overseas and its valuation has been put above $10 billion.


Chobani released a statement saying that it has not as yet determined the number of shares that will be offered to the public, nor has it agreed upon a share price. In June, Bloomberg News had reported that the company was planning to release an IPO in the second half of the year.


The pandemic increased home sales of ready to eat products. Healthy foods and plant-based foods saw huge gains as restaurants were shut and people looked at foods that were convenient to prepare and eat. Sales of Chobani products increased to high levels and some experts believe that the trend is bound to continue.


Chobani was founded in 2005 by Hamdi Ulukaya who was a Turkish immigrant to the nation. According to its website Chobani means shepherd in Turkish. Ulukaya bought an old yogurt plant after taking a small loan. The first Greek yogurt cup was displayed in an American store in 2007.


Chobani slowly expanded its operations and has opened factories in New York, Idaho, and Australia. The original operations of the company remain in upstate New York around Norwich and its South Edmeston yogurt factory. It also has a plant in Idaho which is the largest yogurt making facility in the world.


Although Chobani is well known for its Greek yogurt, it also manufactures other food products. They include oat milk, probiotic beverages, dairy, and plant-based creamers as well as ready-to-drink coffee. It recently launched Chobani Zero Sugar.


In 2016, PepsiCo wanted to acquire a major stake in the company, but its offer was rejected as the company wanted to maintain its independence. Now, it has begun the process to become a public listed company and its employees can expect a windfall as they will get a share of the stocks.

Photo Amazon


Follow us on Google news for more updates and News


This content is being provided to you for informational purposes only. The content has been prepared by third parties not affiliated with CWEB Inc, a business. This content and any information contained therein, does not constitute a recommendation by CWEB to buy, sell or hold any security, financial product or instrument referenced in the content. This information neither is, nor should be construed as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. CWEB Inc. does not offer or provide any opinion regarding the nature, potential, value, suitability or profitability of any particular investment or investment strategy, and you shall be fully responsible for any investment decisions you make, and such decisions will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs.

Unless stated otherwise, the web content provided by the CWEB family of companies is for educational purposes only. The information and tools provided neither are, nor should be construed, as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. or its affiliates. Unless stated otherwise, no information presented constitutes a recommendation by CWEB Inc. or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy.

Full Disclaimer