Chobani is continuing to build out its dairy empire by diversifying its reach as it looks to become a leader in protein.
Following a $650 million fundraising round last year, the yogurt maker is preparing to grow its portfolio even further through innovation and acquisitions, Talia Monroe, senior vice president of commercial growth for Chobani, said at Natural Products Expo West in Anaheim, California, last month.
Within the past three years, Chobani has grown to include coffee company La Colombe and frozen food maker Daily Harvest.
Chobani has benefited from a resurgence in dairy demand due to growing consumer interest in protein. Similarly, new U.S. dietary guidelines recommend full-fat dairy and put dairy products at the top of the new food pyramid.
Chobani is now looking to extend its dairy dominance. Monroe said the company is a major player in dairy, but it isn’t “in every category” within the segment.
“We’re exploring options across the whole dairy category, and then also shelf stable, ambient categories,” she said.
This strategy includes leaning more heavily into beverages, both through La Colombe — which it’s expanding through a new manufacturing plant investment — and Chobani protein-enhanced smoothies. The company plans to continue leaning even further in the portable nutrition space.
Chobani believes it’s always been at the center of the protein craze, but now it's looking to cement its status as a market leader as consumers boost their protein intake even more.
The company wants to educate its consumers on what makes quality protein- and fiber-rich foods rather than pushing products fortified with added nutrients.
“Dairy by nature is a natural protein,” Monroe said.
When deciding whether to acquire a brand, Chobani’s guiding principles have been focused on “natural, nutritious, delicious and accessible food,” Monroe said.
“I think both [La Colombe and Daily Harvest] really resonated with that and also being disruptive in the space that they are in today,” she said.
If the product doesn’t fit into those categories, it’s either not on the company’s radar, or founder and CEO Hamdi Ulukaya “is going to develop it” in house, Monroe said.
