Economy

Chobani Brings Greek Yogurt Facility To Idaho

In December 2012, the New York-based Greek yogurt company began making yogurt at it’s new manufacturing facility in Twin Falls, Idaho.The company announced in 2011 plans to build it’s second U.S. manufacturing plant. Chobani chose Twin Falls. The company has said it plans to hire up to 500 people once the facility starts operating at full capacity.Hamdi Ulukaya founded the Chobani Greek Yogurt company in 2005. According to Chobani’s website, Ulukaya threw himself into the yogurt business after he saw an ad for a recently shuttered Kraft yogurt plant in his local newspaper. He purchased that facility.By 2007, Chobani Greek Yogurt could be found in New York grocery stores. By 2010, it became the number one selling Greek yogurt in the country.

Chobani Giving Employees Shares In Company

Boise State Public Radio News | By Associated Press

Published April 26, 2016 at 1:52 PM MDT

Chobani says it is giving its employees an ownership stake in the privately held company.

The Greek yogurt maker says the shares being distributed would amount to 10 percent of the company's future value in the event of a sale or initial public offering. It says each of its approximately 2,000 full-time employees will receive shares based on their role and time spent with the company.

Chobani says CEO and founder HamdiUlukaya is meeting with employees this week to talk about the plan in person.

"This isn't a gift. It's a mutual promise to work together with a shared purpose and responsibility," Ulukaya wrote in a letter to employees.

Chobani has helped lead the surging popularity in Greek yogurt, but has faced more competition in recent years.

Chobani Giving Employees Shares In Company

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