Chobani files confidentially for IPO

By Mary Ellen Shoup contact

- Last updated on GMT

Photo Credit: Chobani
Photo Credit: Chobani

Related tags: Chobani, Greek yogurt, IPO

Chobani has filed a confidential draft registration statement for a proposed initial public offering (IPO) with the Securities and Exchange Commission (SEC). The number of shares of common stock to be sold and the price range for the proposed offering have not yet been determined.

The Greek yogurt producer ​which has recently expanded its portfolio to include a range of products from ready-to-drink coffee to oatmilk, probiotic beverages and coconut yogurt alternatives – ​has been publicly considering an IPO for several months, with CEO Hamdi Ulukaya telling FoodNavigator-USA and other reporters in February 2021​:

“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 is definitely one exciting direction but whether or not we’re public, we’ll keep disrupting and making things better."

Known as the pioneer of the US Greek yogurt market credited with popularizing the thicker tangier style of yogurt, Chobani surpassed $1bn in sales in 2018 and saw a significant rise in its core yogurt sales last year​.

In 2016, Ulukaya gave 2,000 full-time employees potential shares in the company in the event it were to go public. At the time, Ulukaya said he would transfer up to 10% of shares in the event the company were sold or went public, which - based on the company's valuation at the time - meant employees could take home an average of $150,000, and those at the company with longer tenures potentially receiving over $1m.

In the confidential registration for the IPO - which Chobani referenced in a press release​ this morning - it said that the number of shares of common stock to be sold and the price range for the proposed offering have not yet been determined. However, the Wall Street Journal reported in February​ that the company was targeting a valuation between $7bn and $10bn, according to people familiar with the matter.

Chobani said it expects to commence the public offering following completion of the SEC review process, subject to market and other conditions.

Related news

Show more

Related products

show more

Unlock crave-worthy snacking success.

Unlock crave-worthy snacking success.

ADM | 21-Oct-2021 | Case Study

Today's consumers crave snacks that deliver it all - quality taste with positive nutrition and added health benefits. ADM is at the forefront of...

Differentiate your food & beverages w/ postbiotics

Differentiate your food & beverages w/ postbiotics

Embria Health Sciences | 18-Oct-2021 | Technical / White Paper

Consumers have heard that probiotics and prebiotics are good for your gut. They’re also understanding that the gut is linked to many other aspects of your...

Forecast: The Future is Plant-Based

Forecast: The Future is Plant-Based

Nellson | 05-Oct-2021 | Technical / White Paper

Find out what’s driving today’s nutrition-focused consumers—and how you can stay ahead of what they will want next. How quickly and dramatically is the...

Natural Acerola Extract For Food Protection

Natural Acerola Extract For Food Protection

Nexira Inc. | 07-Sep-2021 | Technical / White Paper

When it comes to the preservation of Meats, and Fruit Desserts, Acerola Extract is an excellent all-natural solution replacing chemical-sounding ingredients,...

Related suppliers

Follow us


View more