Chobani CEO: ‘An IPO is definitely one exciting direction’

By Elaine Watson contact

- Last updated on GMT

Hamdi Ulukaya: 'We’ll look at all options carefully to fuel our ambitious plans, especially with oatmilk and plant-based products...' Picture credit: Chobani
Hamdi Ulukaya: 'We’ll look at all options carefully to fuel our ambitious plans, especially with oatmilk and plant-based products...' Picture credit: Chobani

Related tags: Chobani, IPO

Chobani CEO Hamdi Ulukaya says he’s “looking at all options” to fuel the company’s growth plans, following reports in the Wall Street Journal (WSJ) that the company he founded in 2007 is considering going public this year in a listing that could value it at $7-10bn.

 In a statement sent to FoodNavigator-USA and other reporters following the WSJ report​, Ulukaya said: “As we create the food company of the future, we’ll look at all options carefully to fuel our ambitious plans, especially with oatmilk and plant-based products. 

"An IPO ​[initial public offering] is definitely one exciting direction but whether or not we’re public, we’ll keep disrupting and making things better.”

Chobani - which looked at selling a minority stake in the business​ ​in 2015 – is one of several high-profile food brands mulling an IPO, including Oatly and Eat Just, with CEO Josh Tetrick telling this publication last year​ ​that, “It’s always been my perspective that eventually going public made the most sense in terms of keeping true to the mission of the company, and today that path seems clearer.”

Pasture-raised egg firm Vital Farms​ went public in 2020, while Beyond Meat​ went public in 2019.

Chobani, credited with driving the Greek yogurt boom in the US, has recently moved into several new categories with the launch of ready to drink cold brew products, probiotic yogurts, shakes​​​, and fermented beverages; the protein- and fiber-packed Chobani Complete range​​​; and a line of oatmilks and dairy creamers.​​

However, its core yogurt portfolio is also performing well, buoyed in part by a resurgence of growth in the yogurt category, which has been amplified by COVID-19 (as more food consumption has shifted towards the home) but was evident well before the pandemic hit, stressed president Peter McGuinness in a recent interview.

Related topics: Dairy, People, Markets, Manufacturers

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