Chobani’s long-rumored entrance into the public markets took its biggest step yet with the draft registration statement with the SEC.
Should the maker of Greek yogurt officially move forward with an IPO, the New York-based company would likely raise hundreds of millions of dollars that it could use toward expanding its reach beyond its signature dairy product. The Wall Street Journal reported in February that Chobani was seeking a listing that would value the company at $7 billion to $10 billion.
While Chobani is synonymous with the Greek yogurt category it helped popularize, the food company has been rapidly expanding its product offerings into oat- and plant-based options, ready-to-drink coffee and creamers. It hasn’t lost sight of its key yogurt offering either, rolling out in June a Greek yogurt without sugar to cater to consumers looking to eat healthier and curtail their intake of the sweetener.