WASHINGTON (dpa-AFX) - Chobani, a U.S. dairy brand, revealed plans on Tuesday to build a state-of-the-art $1.2 billion manufacturing plant in Rome, New York.
The new facility, spanning one million square feet, will be the largest dairy plant in the U.S., capable of producing one billion pounds of dairy products annually. This expansion is designed to meet surging demand and will also create over 1,000 jobs, nearly doubling Chobani's workforce in New York.
Since its founding in 2005 in a former Kraft factory, Chobani has grown into one of America's fastest growing food companies. Last year, the company reported net sales of $2.96 billion, marking a 17% increase, and a 26% rise in adjusted pretax earnings to $509 million.
Chobani currently holds approximately 20% of the U.S. yogurt market and has expanded its product range to include creamers, oat milk, and coffee beverages, notably through its $900 million acquisition of La Colombe in 2023.
The new Rome plant, supported by $23 million in state funds and $6 million from Oneida County, reflects New York's aggressive push to retain Chobani amidst competition from other states offering attractive incentives. In addition to the New York expansion, Chobani recently committed $500 million to enhance a factory in Idaho.
Despite challenges such as global supply chain disruptions and trade uncertainties, CEO Hamdi Ulukaya reiterated Chobani's dedication to socially responsible practices, including strong employee benefits and refugee employment programs.
While Chobani had filed for an IPO in 2021, Ulukaya stated that a public offering remains under consideration but is secondary to the company's current expansion efforts.
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