The cash will be spent on:
- The purchase and conversion of three production lines for Chobani Flip products, its fastest growing yogurt platform.
- The purchase of a new production line and a new bulk production line for foodservice opportunities to drive further growth in schools, hotels, airlines and restaurants.
- The purchase of new equipment for new adjacent categories such as Chobani Meze Dips and yogurt drinks
- The launch of products to new markets, including Mexico and Puerto Rico in Q2 2016.
Commissioned in 2013, Twin Falls is the largest yogurt manufacturing facility in the world, said Chobani, which has a 19.3% share of the overall yogurt market and a 36.1% share of the Greek yogurt category, according to the latest Nielsen xAOC Scantrack data (four weeks to Jan 23, 2016).
The New York-based company, which says its sales are growing 25% year-on-year, driven in part by the strong growth of its Flip platform, has recently moved into new territory with the launch of Meze dips featuring veggies, herbs and spices blended with Greek Yogurt; and Drink Chobani, a yogurt beverage including fruit and probiotics.
Chobani Meze Dips will be available nationwide beginning June 2016 in the chilled deli aisle at grocery stores and retailers in 10oz containers; while Drink Chobani will be available nationwide beginning July 2016 at grocery stores and retailers in 10 oz. bottles.