Build story · United States · 2005–2016
Chobani: buying a closed Kraft factory and creating a category
Turkish immigrant Hamdi Ulukaya bought a closed yogurt factory with a small-business loan and made Greek yogurt mainstream in America, reaching $1 billion in sales within about five years.
By Shivam Bhandari · Reviewed 31 October 2026 · How we write
by the numbers
- Factory purchase
- 2005
- Launch
- 2007
- Annual sales around 2012
- over $1 billion
- Employee equity (2016)
- up to 10%
What happened
In 2005 Hamdi Ulukaya, who ran a small feta cheese business in upstate New York, saw an ad for a closed Kraft yogurt plant. He bought it with the help of a Small Business Administration loan and spent about two years perfecting a thick, strained Greek-style yogurt.
Chobani launched in 2007. Greek yogurt was a tiny niche in the US, but Ulukaya priced it accessibly and pushed for placement in mainstream supermarket aisles alongside regular yogurt, rather than in specialty sections. Its higher protein appealed to health-conscious shoppers.
Chobani passed $1 billion in annual sales around 2012, and Greek yogurt became a large share of the US yogurt market. In 2016 Ulukaya gave employees shares worth up to 10% of the company.
Timeline
- 2005
Buys closed Kraft plant.
- 2007
Chobani launches.
- 2012
Passes $1 billion in sales.
- 2016
Employee shares announced.
what made it work
- Turned a niche product into a mainstream one.
- Fought for placement where most shoppers look.
- Accessible pricing for a premium product.
the lesson
Taking a niche product into the mainstream aisle — at a mainstream price — can create a whole new category.
Apply it to your business
- 1Look for niche products ready for the mass market.
- 2Placement can matter as much as product.
- 3Underused assets can be bought cheaply.
Laws at work in this story
Figures are rounded and drawn from public reports, company filings and widely cited coverage at the time. Check the company's latest filings before relying on any number.