Chobani is no longer just a Greek yogurt maker.
The privately held company, which has disrupted the yogurt market in recent years with its tangy blends and simple packaging, announced the launch of Chobani Smooth on Thursday. Taking aim at General Mills' (GIS - Get Report) struggling Yoplait brand, Chobani's new traditional style yogurt is non-GMO and stresses the use of all-natural ingredients. "We always had an eye on that side [of the yogurt business], but we didn't want to go in until we were very comfortable and confident that we could bring something extremely amazing," Chobani's founder Hamdi Ulukaya told TheStreet in an interview.
When asked if Chobani risked stealing sales from its bread and butter Greek yogurt, Ulukaya said it is a risk.
"There could be some cannibalization, which is fine -- I want everyone to enjoy yogurt."
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Editors' pick: Originally published June 28th