Chobani Raises $650 Million in Equity Capital to Fuel Growth and Innovation
The New York-based food company plans to use the additional capital, along with its strong operating cash flows, to fund the expansion of its production facilities in Twin Falls, Idaho, and the construction of a new $1.2 billion food manufacturing plant in Rome, New York — the largest investment in the company’s history.
“This capital raise is a significant milestone for Chobani,” the company stated. “The commitment from long-term oriented, industry thought leaders reflects their confidence in Chobani’s vision of providing good food for all while prioritizing its people.”
The investors participating in this round of funding were not disclosed by Chobani.
The $650 million investment has propelled Chobani to a valuation of $20 billion, according to The New York Times. The company is expected to achieve $3.8 billion in sales this year, marking a 28% increase from the previous year.
While Chobani is known for its yogurt products, it has diversified its portfolio through internal innovation and acquisitions. The company introduced oat milk and creamers before acquiring ready-to-drink coffee manufacturer La Colombe for $900 million in 2023. Earlier this year, Chobani acquired Daily Harvest, a producer of organic smoothies, breakfast bowls, protein powders, and frozen meals, expanding its offerings into the ready-to-make meal category.