Yogurt Maker Chobani Files Confidential Registration for IPO

(Bloomberg) -- Chobani LLC has filed for an initial public offering as the yogurt maker looks to capitalize on demand for packaged food.

The closely held company submitted a confidential draft registration statement with the U.S. Securities and Exchange Commission, Chobani said Wednesday in a statement. The number of shares to be sold and the price range for the offering haven’t yet been determined, it said.

The Norwich, New York-based maker of Greek yogurt, oat milk and other products has been riding a wave of consumer interest since the pandemic sparked an eat-at-home craze, with many restaurants temporarily closing their doors. Some in the industry expect demand to remain elevated even as the economy continues to reopen.

Chobani could be worth as much as $10 billion in an IPO, the Wall Street Journal reported in February. Bloomberg News reported last month that Chobani was working with Goldman Sachs Group Inc. and Bank of America Corp. to go public in the second half of 2021.

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