Why Chobani’s Billionaire Founder Is Investing $1.2 Billion In A State-Of-The-Art New York Dairy
Chobani’s billionaire founder, Hamdi Ulukaya, has made a bold investment in American manufacturing by breaking ground on a new state-of-the-art facility in New York, with plans to produce a billion pounds of yogurt and other products annually. Ulukaya’s $1.2 billion investment marks a significant expansion of his operations, with an additional $500 million committed to the expansion of Chobani’s Idaho plant. His ambitious plans come amidst Chobani’s position as America’s top-selling yogurt brand, boasting $3 billion in annual revenue and a 20% increase in yogurt sales last year.
Chobani plans to process up to 12 million pounds of milk daily at the new New York facility, augmenting the 6 billion pounds of milk the company already purchases annually, a move that will benefit struggling dairy farmers in the region. Ulukaya’s story is one of entrepreneurial resilience and vision, from his humble beginnings in Turkey to owning one of the largest privately-held brands in the consumer packaged goods industry, valued personally at $2.4 billion. He emphasizes the importance of maintaining manufacturing capabilities in-house to ensure quality and sustainability.
Ulukaya recalls that the investment reflects not only a financial commitment but a personal journey, having immigrated to the U.S. with dreams that materialized into a leading yogurt brand. His vision for Chobani is clear: "Big food has plants, infrastructure, all that stuff and that is very hard to build," he states, underscoring his focus on long-term investment and self-manufacturing over quick returns. With major facility renovations underway in Idaho and New York, Ulukaya's vision for Chobani is one of sustained growth and impact, symbolizing the intertwining of personal history with corporate ambition.
"We could make all the advances in life, but if we can’t feed our children good food, that’s not a success," Ulukaya remarks, firmly stating his belief in Chobani’s path as tomorrow’s food company.
