Chobani is slated to go public later this 12 months
Chobani branded Greek yogurt is on display at an Albertsons Vons grocery store in San Diego, California
Bing Guan | Bloomberg | Getty Images
Yogurt maker Chobani is considering going public through an IPO later this year, the Wall Street Journal reported.
According to the newspaper, the company is targeting a valuation of $ 7 billion to $ 10 billion.
Chobani was founded in 2005 and is best known for its line of Greek yogurts. However, over the past two years, Chobani has broken down into different categories as sales growth of its signature product has slowed. There’s oat milk, coffee creams, probiotics, and even ready-to-drink coffee.
HOOPP Capital Partners, the private investment arm of the Healthcare of Ontario pension plan, has been a minority stake in Chobani since 2018, when private equity firm TPG Capital left its own investment.
Chobani’s initial public offering could run against Oatly, the Swedish company that helped spread oat milk. CNBC has reported that Oatly plans to go public later this year as well.
Chobani did not immediately respond to a request for comment from CNBC.
Read more about Chobani’s plans here.