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Grab a spoon! Chobani wants to go public in a deal that could be worth $10B

The latest IPO news is delicious.

Grab a spoon! Chobani wants to go public in a deal that could be worth $10B
[Source Photos: Chobani; Guillaume Bourdages/Unsplash]
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Get ready to shout “Opa!”

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Greek-yogurt giant Chobani is taking steps to become a publicly traded company.

The New Berlin, New York-based business announced it had filed a confidential draft registration statement with the U.S. Securities and Exchange Commission on Tuesday for a proposed underwritten public offering of common stock.

How many shares will be sold—and for how much—hasn’t been determined yet, according to Chobani.

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Experts are estimating the company’s IPO could be valued at more than $10 billion, according to Reuters.

Hamdi Ulukaya founded Chobani—”shepherd” in Turkish—in 2005 with the help of a Small Business Administration loan, according to the company’s website. Today, in addition to yogurt, it produces oat milk, dairy and plant-based creamers, ready-to-drink coffee, and plant-based probiotic drinks.

Yogurt is a popular food item as Americans continue to focus on eating healthy. What was once thought of as a diet staple is now eaten for breakfast, lunch and snack in cups, pouches, and tubes, and dressed up to become more dessert-like or stripped of its milky origin to appeal to consumers who avoid dairy.

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Yogurt sales in the U.S. now total $7.24 billion, compared to $5.6 billion in 2011, according to the market and consumer data company, Statista.

Oatly Group, a maker of vegan milk products based in Sweden, made its public debut on the Nasdaq in May, with shares rising more than 28% on its first day of trading.