The yogurt maker Chobani filed for an initial public offering with the Securities and Exchange Commission on Wednesday and will trade on the Nasdaq under the ticker symbol CHO, with expectations that the equity sale could value the business at over $10 billion.
ingle-serve Chobani Greek Yogurt cups are seen on the shelf of a local grocery store on Aug. 12, … [+] 2021 in New York City. (Photo by Eugene Gologursky/Getty Images for Chobani)
It comes just over four months after the New York-based company announced it had filed a confidential registration statement for a proposed IPO with the SEC.
Wednesday’s filing, which did not include the terms of its offering, showed that the company has racked up annual net losses every year since 2016, with sales oscillating from $1.29 billion in 2016 to $1.4 billion in 2020.
The company is best known for its Greek yogurt, and has manufacturing facilities in New York, Idaho and Melbourne, Australia.
$2.1 billion. That’s Chobani founder and CEO Hamdi Ulukaya’s net worth as of this month, Forbes estimates.
Ulukaya founded Chobani — now the United States’ most popular Greek yogurt brand — in 2005 after moving from his native Turkey, and started selling his products in 2007. Today its brand is available at large outlets including Walmart, Target, and Amazon’s Whole Foods. In addition to yogurt Chobani also sells plant-based milks, coffee, coffee creamers and others. And earlier this year it launched the first Fair Trade-certified dairy products in the country.
“Chobani” translates to “shepherd” in Turkish.
Chobani files to go public through initial public offering as its yogurt sales rise” (CNBC)
Yogurt Maker Chobani Files for IPO Showing Sales Gain, Risks” (Bloomberg)
Greek yogurt maker Chobani reveals sales jump in IPO filing” (Reuters)
Chobani confidentially files for U.S. IPO, valuation may exceed $10 bln” (Reuters)
How Chobani Billionaire Hamdi Ulukaya Spearheaded The Greek Yogurt Revolution” (Forbes)

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