Crafty Kurd Creates Curdled Commodity

Discussion in 'Wall St. News' started by Pekelo, Feb 27, 2013.

  1. Pekelo


    Kurdish immigrant buys defunct yogurt plant in Upstate NY with US Small Business Administration loan and took it from $0 revenue in 2007 to $1 billion revenue in 2012...

    "He can afford to pass out compliments. Chobani has made Ulukaya a billionaire, according to Bloomberg data. Five years ago Chobani had almost no revenue. This year, the company will sell more than $1 billion worth of yogurt, says Ulukaya, who’s the sole owner. Once a niche business, Greek yogurt now accounts for 36 percent of the $6.5 billion in total U.S. yogurt sales, according to investment firm AllianceBernstein (AB). Upstate New York, with its 28 plants owned by Chobani, Fage, Yoplait maker General Mills (GIS), and others, has become something like the Silicon Valley of yogurt."


    " His ex-wife is suing him for $1 billion, saying she helped fund Chobani and is entitled to at least 33 percent of the shares. (Ulukaya says the suit is meritless.)"