Prepare to shout “Opa!”
Greek-yogurt large Chobani is taking steps to develop into a publicly traded firm.
The New Berlin, New York-based enterprise introduced it had filed a confidential draft registration assertion with the U.S. Securities and Alternate Fee on Tuesday for a proposed underwritten public providing of widespread stock.
What number of shares will likely be bought—and for the way a lot—hasn’t been decided but, in accordance to Chobani.
Specialists are estimating the corporate’s IPO might be valued at greater than $10 billion, in accordance to Reuters.
Hamdi Ulukaya based Chobani—”shepherd” in Turkish—in 2005 with the assistance of a Small Enterprise Administration mortgage, in accordance to the corporate’s web site. As we speak, in addition to yogurt, it produces oat milk, dairy and plant-based creamers, ready-to-drink espresso, and plant-based probiotic drinks.
Yogurt is a well-liked meals merchandise as People proceed to deal with maintaining a healthy diet. What was as soon as considered a weight-reduction plan staple is now eaten for breakfast, lunch and snack in cups, pouches, and tubes, and dressed up to develop into extra dessert-like or stripped of its milky origin to enchantment to customers who keep away from dairy.
Yogurt gross sales in the U.S. now whole $7.24 billion, in contrast to $5.6 billion in 2011, in accordance to the market and client information firm, Statista.
Oatly Group, a maker of vegan milk merchandise primarily based in Sweden, made its public debut on the Nasdaq in Could, with shares rising greater than 28% on its first day of buying and selling.