October 01, 2016 8:34 AM ET

Food Products

Company Overview of Chobani, LLC

Company Overview

Chobani, LLC produces and markets Greek yogurt. It offers fruit on the bottom, blended, plain, oats, and dark chocolate yogurt varieties; and yogurt varieties for kids and tots, as well as creamy dips with real vegetables, and part toppings. The company offers its products through stores in the United States. Chobani, LLC was formerly known as Agro-Farma, Inc. and changed its name to Chobani, LLC in January 2012. The company was founded in 2005 and is based in Norwich, New York.

147 State Highway 320

Norwich, NY 13815

United States

Founded in 2005

Phone:

607-847-6181

Fax:

607-337-1240

Key Executives for Chobani, LLC

Founder, Chairman and Chief Executive Officer
Chief Financial Officer
Age: 40
Senior Vice President of Supply Chain and Operations
Director of Communications
Director of Public Relations
Compensation as of Fiscal Year 2016.

Chobani, LLC Key Developments

Chobani Hires Mick Beekhuizen as Chief Financial Officer

Chobani has hired Mick Beekhuizen as new chief financial officer. He was most recently the CFO of Education Management Corp.

Chobani, LLC Announces Major Expansion to its Manufacturing Facility in Twin Falls, Idaho and Announces Expansion Plans in Twin Falls

Chobani, LLC announced a major expansion to its manufacturing facility in Twin Falls, Idaho, which will be used to drive continued growth in the region, the state and the community and expand production capability to meet demand for new and existing products. As the yogurt category and overall consumption continues to grow, Chobani is self-funding major expansion initiatives, including: Purchase and conversion of three production lines for Chobani "Flip"™ products. Purchase of a new production line and a new bulk production line for foodservice opportunities to drive further growth in schools, hotels, airlines and restaurants. Purchase of new equipment for new adjacent categories like Chobani Meze™ Dips and yogurt drinks. Launch of products to new international markets, including Mexico and Puerto Rico in second quarter of 2016, furthering its mission to make better food for more people. Chobani commissioned its second domestic manufacturing facility in Twin Falls, Idaho, in 2013. The company had previously invested more than $450 million to build the one million square foot, world-class operation. The initial construction was completed in an unprecedented 326 days, with more than 2,000 men and women who put in more than 1.7 million man hours to build the facility from the ground up. Chobani's presence in Idaho has served as a catalyst for new jobs and continues to have a significant positive economic impact in the region. Since its arrival, unemployment has reached record-low levels and major businesses from across the country have moved to the region. In addition to expansion plans in Twin Falls, the company is also exploring plans to expand its original plant in Central New York. Chobani works closely with its communities in Twin Falls and Central New York to support local initiatives.

Chobani Rejected Offer From Pepsico

Chobani LLC rejected offer from Pepsico, Inc. (NYSE:PEP). Chobani said on February 5, 2016, that it had rejected offers from PepsiCo and other investors. Chobani worked with The Goldman Sachs Group, Inc. (NYSE:GS) to explore the sale after being approached by several parties in 2015. The decision to reject the offer was due in part to the terms, Chobani said in an email to Reuters. Chobani maker wanted to sell a minority stake while outside investors like PepsiCo were looking for a majority stake in the company. Chobani said that independence remained a key asset to the company and the brand. PepsiCo was not immediately available to comment.

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