Chobani, an American food company, confidentially filed for U.S. IPO on Wednesday, with a valuation expected to surpass USD10 Billion according to a person familiar with the matter. Amid increasing health and environment-conscious eaters, the food industry has gained the attention of investors throughout the past few years.
Founded in 2005 by a turkish immigrant to the United States, Hamdi Ulukaya, the first product reached stores in 2007. The company makes yogurt, oatmilk, dairy- and plant-based creamers and probiotic beverages, as well as pre-made coffee.
The greek-yogurt maker has yet to decide the amount of shares it will sell or the price range for its projected offering. Chobani competitors are also looking into the U.S. capital market which has reached record highs when it comes to capital raised through IPOs.
Vegan milk maker Oatly Group AB, managed to raise USD1.4 Billion in its U.S. IPO in May. Meanwhile, Reuters reported that Impossible Foods Inc was preparing for a public listing which could possibly value it at USD10 Billion.
In 2016, Chobani rejected an offer for a majority stake from PepsiCo Inc, claiming that it sought to remain independent.