Chobani IPO Coming? Valued at $10-Billion?
There must be a lot of dough in yogurt. Chobani, long based in Chenango County, is apparently preparing to go public according to the Reuters news service.
Greek-yogurt maker Chobani could be valued at more than $10 billion in its initial public offering (IPO), a person familiar with the matter told Reuters on Wednesday, as the company confidentially filed regulatory paperwork for its stock market listing.
Chobani, which means shepherd in Turkish, makes yogurt, oatmilk, dairy- and plant-based creamers and probiotic beverages, and ready-to-drink coffee.
It was founded in 2005 by Hamdi Ulukaya, a Turkish immigrant to the United States, who took a small loan and bought an old yogurt plant, according to its website. The first cup of Chobani Greek yogurt hit store shelves in 2007.
Chobani has long been a good neighbor to our tri-county listening area, donating large sums of money (and yogurt) to area non-profits, youth groups and fundraising events. Chobani has a sprawling plant in Chenango County and has been one of the county's largest and steadiest employers.
Groiwing up in this region in the 1960s, 1970s, and 1980s could we ever imagine that someday we would be known as the heart of yogurt country with America's favorite brand of yogurt being made "just over the hill."
For those of us who live locally, it is still a kick to buy a small container of Chobani yogurt wherever we may roam and see the words "Made in New Berlin, N.Y." on the side of the package.
We wish our friends at Chobani great success with their IPO.