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Summary
- Chobani, a food and wellness company, is heading for an IPO in the US.
- Chobani is well known for its Greek yogurt and other such related products in the US.
- The New York-based company announced on Wednesday, July 7, that it has confidentially filed the required documents with the SEC for an IPO
Food and wellness company Chobani is joining the long line of private enterprises looking to go public in the US.
While Chobani is yet to release the details of its IPO plans, some reports claimed that it could be valued at US$ 10 billion at the offering.
The New York-based company announced on Wednesday, July 7, that it has confidentially filed the required documents with the US Securities and Exchange Commission (SEC), seeking an initial public offering (IPO).
How can you buy Chobani stock?
Entrepreneur Hamdi Ulukaya founded Chobani in 2005. The firm is quite well known in the US for its Greek yogurt, although it also sell other dairy products, ready-to-drink coffee, plant-based creamers, oat milk, etc.
As of now, the food manufacturer has not declared its planned IPO size or price range. While Chobani also did not divulge a time frame for its IPO, it said that it plans to kick-start its public offering once the SEC completes its evaluation.
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Generally, only accredited investors were allowed to invest in pre-IPO shares. However, the process of buying shares before the stock hits the market is said to have revolutionized over the years. Investors can turn to brokerage companies to explore pre-IPO shares.
Investors often look for pre-IPO shares as they are generally available at discounted rates. By the time a company lists its shares on the stock markets, its prices are likely to increase.
Does Chobani have the potential to grow in future?
According to a United States Department of Agriculture (USDA) report, the consumption of dairy products among Americans was at an all-time high in 2019. The USDA's Economic Research Service noted that yogurt, butter and cheese were behind the substantial growth in per capita consumption of dairy products.
People in the US are turning to yogurt for almost every meal. According to data platform Statista, the per capita consumption of yogurt was 13.4 pounds per person in 2019.
Another report by Statista revealed that yogurt sales amounted to US$ 7.24 billion in the US in 2021, up from US$ 5.6 billion in 2011.
Chobani, which claims to be the top yogurt brand in the US, could grow further in the future on the back of this expanding demand for such dairy and plant-based milk products.
The above constitutes a preliminary view and any interest in stocks should be evaluated further from investment point of view.
