Chobani

American dairy company and the maker of Chobani Greek yogurt, the best-selling yogurt brand in the United States, founded in 2005 by Hamdi Ulukaya.

Hamdi Ulukaya came to the United States from Turkey in 1994 to study English in Albany and then attended SUNY Oneonta. He founded Fage's US operations in 2002 to import Greek yogurt, gaining familiarity with the category before launching his own brand.

In 2005, Ulukaya purchased an 85-year-old Kraft dairy plant in South Edmeston, New York that had been shut down, paying approximately $700,000. He spent two years developing a recipe for authentic Greek-style strained yogurt with a small team before launching in 2007 with a single product in a quart-size container.

The product reached Wegmans grocery stores in upstate New York and grew through word of mouth before receiving national distribution. By 2012, Chobani had reached approximately $1 billion in annual sales, one of the fastest food brand ramp-ups in US history. By 2013, Chobani was the single best-selling yogurt brand in the United States, ending Yoplait's decades-long dominance.

In 2016, the company faced a financial challenge resulting from rapid expansion and took a loan from TPG Growth, a private equity firm that acquired a minority convertible stake. Ulukaya bought out TPG in 2020, restoring full private family ownership. The company filed for a potential IPO in 2021 but withdrew the filing and remains private.

Chobani has received significant attention for its founder's philanthropic commitments, including a widely publicized allocation of employee equity to approximately 2,000 full-time US employees, and Ulukaya's signing of the Giving Pledge to donate the majority of his wealth.

Chobani does not use artificial ingredients in its products and is committed to using milk from cows not treated with rBST growth hormone. The company's Ulukaya-driven social mission includes the dairy farmer equity program and significant investment in the communities surrounding its New York and Idaho plants.