Chobani Employees to Share Wealth From Sale or IPO

Employees of Chobani, the Greek yogurt maker, are getting an ownership stake in the privately held company that could make some of them millionaires in the event of a sale or public offering, reported The Associated Press.

Chobani said the shares being distributed would amount to 10 percent of the company's future value in the event of a sale or initial public offering. It says each of its approximately 2,000 full-time employees will receive shares based on their role and time spent with the company.

Chobani said CEO and founder Hamdi Ulukaya was meeting with employees this week to tell them about the plan in person.

"This isn't a gift. It's a mutual promise to work together with a shared purpose and responsibility," Ulukaya wrote in a letter to employees. The plans were first reported by The New York Times.

Chobani has helped lead the surging popularity in Greek yogurt, but has faced more competition in recent years.

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