This audio is generated automatically. Please let me know if you have any comments.
Chobani says it has raised $650 million. From an “industry thought leader” as the Greek yogurt giant plans to invest in increasing production and supporting innovation.
The New York-based food manufacturer noted that the additional capital, along with “strong” operating cash flow, will help fund expansion in Twin Falls, Idaho, and new operations. $1.2 billion food manufacturing plant in Rome, New York — It is the largest facility investment in the company’s history.
“This capital raising marks an important milestone for Chobani,” the company said in a statement Thursday. “This commitment from long-term-oriented industry thought leaders underscores our strong confidence in Chobani’s ability to realize our vision of making great food for everyone and putting people at the center of everything we do.”
Chobani did not specify which investors participated in this round.
With $650 million in funding, Chobani is valued at $20 billion. According to the New York Times. Chobani expects sales this year to reach $3.8 billion, a 28% increase from the previous year, the newspaper reported.
Chobani has its roots in yogurt, but has expanded its portfolio through internal innovation and acquisitions. Developed our own oat milk creamer before spending $900 million in 2023 to purchase the ready-to-drink coffee maker. pigeon.
Chobani earlier this year Daily Harvest PurchaseManufacturer of organic smoothies, breakfast bowls, protein powders, and frozen meals. With this addition, Chobani plans to expand into the ready-to-eat food sector and become a more well-rounded food company.
