Chobani linked to possible IPO

Chobani linked to possible IPO

US group Chobani is said to be readying a public listing this year, although the yogurt and dairy-alternative maker has refused to be drawn on the report.

Citing unnamed sources, The Wall Street Journal said today (4 February) Chobani is laying the groundwork for an IPO.

Approached by just-food, Chobani provided a statement from founder and CEO Hamdi Ulukaya, who said: "The last ten years of Chobani's journey has been nothing but incredible. I am very proud of our people who built this amazing company and brand.

"It's only the beginning. As we create the food company of the future, we'll look at all options carefully to fuel our ambitious plans, especially with oatmilk and plant-based products. An IPO is definitely one exciting direction but whether or not we're public, we'll keep disrupting and making things better."

Set up in 2005, Chobani has become one of the largest yogurt makers in the US and has subsequently diversified into more categories, including oat-based products and creamers in 2019.

Private-equity firm TPG invested in Chobani in 2014 amid a period of expansion at the dairy firm, which led the growth of the Greek-style yogurt category in the US in the second half of the noughties and the early part of the 2010s.

TPG exited Chobani's shareholder roster in 2018, with the company getting a new investor the same year in the shape of Canadian pension fund Healthcare of Ontario Pension Plan.