Saturday, May 21

Greek yogurt maker Chobani delays US IPO – WSJ

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Greek yogurt maker Chobani has delayed its plans for an initial public offering in the United States until at least the second half of 2022 or even 2023, the Wall Street Journal reported on Friday.

Chobani’s Chief Operating Officer Peter McGuinness is also leaving the company effective Friday, the report said citing sources, adding that three more executives are also departing.

The company did not immediately respond to a Reuters request for comment.

Chobani had previously planned to go public in the fall of 2021, and then in January, the Journal reported , citing people close to the company.

The New York-based firm could be valued at over $10 billion in the IPO, Reuters had reported in July.

Net sales jumped 13.8% to about $1.21 billion for the nine-months ended Sept. 25, Chobani disclosed in a regulatory filing late last year.

Chobani, which rejected a bid for a majority stake from PepsiCo Inc in 2016, makes yogurt, oatmilk, and dairy- and plant-based creamers and probiotic beverages. (Reporting by Deborah Sophia in Bengaluru; Editing by Shailesh Kuber)