COCO - Chobani files for IPO after long wait as it eyes new product lines
Chobani (CHO) files for an IPO on the Nasdaq Global Select Market under the ticker CHO with a placeholder amount of $100M. The company generated revenue of $1.4B in the fiscal year that ended on December 26, 2020 and saw a net loss of $58.7M. For the nine month period that ended on September 25, Chobani generated net sale of $1.2B and reported a net loss of $24M. Chobani says it sees significant growth potential for its yogurt products and has unlocked meaningful new whitespace in adjacent categories through recent launches of oat milk, coffee creamer, ready-to-drink coffee and plant-based probiotic beverage product lines. Chobani's differentiation outlook: "We challenge the old, staid and conventional status quo represented by our legacy competitors by creating food that is delicious, natural, nutritious and accessible. Throughout our history, we have paired our innovative mindset with deliberate investments in people, plants and our sales and
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Chobani files for IPO after long wait as it eyes new product lines