Yogurt maker Chobani has filed a draft registration statement with the U.S. Securities and Exchange Commission for a proposed IPO.
In a news release, the company stated that it had filed its initial IPO paperwork on July 6. Timing of Chobani's proposed market debut, the number of shares to be offered and pricing are yet to be determined.
New Berlin, N.Y.-based Chobani manufactures its dairy and nondairy products at facilities in New York, Idaho and Australia. In June, the company launched Chobani Zero Sugar, a line of 60-calorie yogurts made with milk specially filtered to reduce naturally occurring sugars and sweetened with monkfruit and allulose; Chobani touted the offering as the first nationally distributed yogurt product in the U.S. to contain no sugar.
The company also this summer added two new flavors—Oat Nog and Peppermint Mocha Oat Creamer—to its line of oat-based products, which debuted in November 2019 amid surging consumer interest in plant-based dairy alternatives. Today, according to the Plant Based Foods Association, 39% of U.S. households purchase plant-based milk.
Chobani was founded in 2005 by Hamdi Ulukaya, an immigrant to the U.S., and is the largest seller of Greek yogurt in the U.S.