WEST EDMESTON – Chobani LLC, which over 16 years grew from five employees in a former milk plant in West Edmeston to a multi-national vendor of Greek yogurt, is preparing for a public listing of its shares, the Wall Street Journal is reporting.
Chobani is eyeing an initial public offering later this year that it hopes could value the Norwich, company at as much as $7 billion to $10 billion, according to the Journal.
The 16-year-old company, founded by Hamdi Ulukaya, a former Cooperstown resident, has been expanding into refrigerated coffees, creamer, oat milk and other fast-growing sectors, and an infusion of cash from an IPO could give that effort a boost, the newspaper said.
NEW BERLIN – Alarmed over the threat of the Warwick, R.I. threat to stop serving hot lunches to students whose parents owed lunch money to the school, Chobani founder Hamdi Ulukaya donated $50,000 to the school to ensure all students receive a hot meal, according to The Providence Journal.
“Every child should have access to natural, nutritious & delicious food, so @Chobani is doing our small part to help pay this debt,” he tweeted yesterday afternoon from his personal account, @hamdiulukaya.
WEST EDMESTON – Chobani has doubled its “impact fund” from $100,000 to $200,000 to award Central New York organizations that propose “big ideas” that “strengthen local economies…right at home,” a company spokesperson announced in a press release.
The company created a Community Impact Fund in 2018 for ideas to “help expand economic opportunity and promote entrepreneurship in the regions where our employees live and work” – Otsego, Delaware, Chenango and Madison and Otsego counties.
Some May Become Millionaires, New York Times Reports
NEW BERLIN — The 2,000 full-time employees of the yogurt company Chobani were handed quite the surprise on Tuesday: an ownership stake that could make some of them millionaires, the New York Times is reporting.
Hamdi Ulukaya, the Turkish immigrant who founded Chobani in 2005, told workers at the company’s plant here in upstate New York that he would be giving them shares worth up to 10 percent of the company when it goes public or is sold … continue to full story
NEW BERLIN – Chobani is donating one million cups of Greek yogurt to New Yorkers in need this holiday season, the company announced today.
The first one million cups will be distributed to City Harvest, a food-rescue organization dedicated to helping feed more than 1.4 million New Yorkers facing hunger.
The company began loading product today at its New Berlin plant, which will be transported to City Harvest’s facilities to be distributed around the state.