Chobani is withdrawing plans for an initial public offering, according to a regulatory filing on Friday.
The food and beverage company filed in November to go public on the Nasdaq using the ticker “CHO.”
It’s been a rocky year for the stock market, leading to a drought of IPOs.
Reuters reported the yogurt maker was seeking a valuation of more than $10 billion.
About Chibani
From the purchase of their first plant in 2005 with a handful of employees, Chobani invented an entirely new food category in the United States—Greek yogurt—that completely disrupted an old one.
They were early to identify a once-in-a-generation mega-trend towards healthier eating preferences and leveraged their innovation and brand-building capabilities to create a portfolio of high-quality yogurt products that rapidly gained market share.
Chobani distributed these products into mass market channels—not just specialty stores—where nutritious packaged food typically had not been available and positioned our offerings with pricing that was attractive and accessible to all consumers.
Today the Chobani brand is synonymous with high-quality, delicious, healthy food and making a social and environmental impact, both of which resonate very strongly in the current marketplace.
They currently sell their products in single-serve, multi-serve, and/or multi-pack formats through approximately 95,000 retail locations in the United States.
Chobani also has an international presence through the operation of a manufacturing facility in Melbourne, Australia and participates in certain international export markets, such as Mexico and Canada.
