(Reuters) – Chobani, a Greek yogurt manufacturer, has revealed a 14% increase in net sales since Wednesday’s filing to New York for its initial public offering.

Although the New York-based company did not disclose the terms of the offering, Reuters reported that the company could be worth more than $10 billion if it submits confidential paperwork to the U.S Securities and Exchange Commission.

The food sector has attracted investor attention over the past few years, especially as fast-food chains and upscale restaurants create new menus to attract health- and environment-conscious diners.

Chobani is a Turkish word that means “shepherd” and makes yogurt and oatmilk. It also produces dairy- and plant-based creamers, probiotic drinks, and yogurt.

The website says that it was established by Hamdi Ulugya, an immigrant from Turkey who, after getting a loan, bought an abandoned yogurt plant.

In 2007, Chobani Greek Yogurt’s first product hit the shelves.

PepsiCo, a beverage company with plants in New York, Idaho, and Australia in 2016 rejected a majority share.

Chobani stated that it was capable of meeting 98% of the increased demand last year, despite obstacles presented by the COVID-19 Pandemic. This included lower cream sales as a result declines in food service and higher milk prices.

This company plans to increase its capacity at its Australia plant and launch its refrigerated Oat drinks by the end this year.

Chobani anticipates listing on Nasdaq as “CHO”

BofA Securities and Goldman Sachs (NYSE 🙂 are the leading underwriters of the offering.