Greek yogurt producer Chobani is preparing to go public on the American stock exchange. According to an unnamed source cited by Reuters, the company has submitted paperwork for an Initial Public Offering (IPO) to the authorities, and in this stock market debut, its value could exceed an incredible ten billion dollars. This positive forecast is a result of the growing interest from investors in the healthy food industry and the increasing demand from major fast-food chains for healthier alternatives they wish to incorporate into their menus.
Chobani’s Success
The Chobani brand has existed since 2005 when Turkish immigrant Hamdi Ulukaya took out a loan and purchased a defunct yogurt factory, launching production there. The first cup of Greek yogurt hit the shelves of American stores two years later, and Chobani, which means shepherd in Turkish, now offers a rich line of products – from famous Greek yogurts, probiotic and dairy drinks to oat milk. According to Reuters, Chobani has production facilities in New York, Idaho, and Australia, and five years ago, owner Ulukaya rejected a takeover offer from the giant Pepsi Co, claiming he wanted to remain independent in the market. Given the positive forecasts and trends in the food market, the assessment was more than favorable.
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