Chobani, a popular and favorite yogurt maker for many in the US, is clearing its path towards a public listing that’ll likely happen soon. The company has said that it’s filed a confidential draft registration statement for an IPO with the US SEC, implying that its public listing is around the corner.

• Chobani is a one-of-a-kind success story that’s remained in the control of its founder for a long time. The company was founded in 2005 by Hamdi Ulukaya, a Turkish immigrant to the US with a family history of dairy farming.

• Ulukaya launched Chobani in 2005 by taking a government loan to buy a factory that was being vacated by Kraft Foods. He bought and retooled the factory together with some former Kraft employees and saw Chobani’s brand of thick, strained yogurt become the best-selling of its kind in the US.

• Chobani has remained controlled by its founder Hamdi Ulukaya (and some employees) since its launch. The company’s only known external shareholder now is the Healthcare of Ontario Pension Plan with a 20% stake. TPG, a major private equity firm, had earlier invested in Chobani in the form of debt and warrants but sold off its position back to the company and the Canadian pension fund for a healthy profit in 2018.

• 16 years after its start, Chobani is now on its path to the public markets. It’ll be an interesting investment opportunity for those who take a lot of Chobani yogurts. Rumors have it the company is targeting a valuation of more than $10bn with its IPO.

• For now, there’s no S-1 filing to analyze Chobani’s financials but be sure we’ll do that when the filing drops. But for now, we can point out that Chobani rakes in over $1.5bn in annual sales, according to Bloomberg.

• Watch out for Chobani’s upcoming public listing…

Share this...

Facebook

Pinterest

Twitter

Linkedin

Whatsapp

Email

Print