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Chobani Withdraws IPO Documentation

09/07/2022

On September 2nd Chobani LLC. requested the Securities and Exchange Commission to withdraw the Registration Statement submitted previously in November 2021. The Company was valued at $10 billion at this time based on annual revenue of $1,400 million in 2020. Chobani is currently non-profitable with a loss of $59 million in 2020 due to plough-back of  operating margin into broadening the product line and gaining market share

 

The Company was founded in upstate New York by Hamdi Ulukaya an immigrant from Turkey, but now is headquartered in Twin Falls ID where it operates one of the largest yoghurt plants in the World. Chobani is noted for generous employee benefits and providing a haven for refugee immigrants who comprise 35 percent of the workforce.

 

A spokesperson noted that current market conditions have led to the decision with the focus of the company to remain on execution and profitable growth.

 

Chobani continues to expand their product line and it is inevitable that when market conditions improve that the company will reinstate the S-1 Registration Statement for CHO.