Chobani eyes a venture into the Turkish market following a significant endorsement deal with Fenerbahce
Chobani Expands into Turkey with Historic €120 Million Sponsorship Deal
American yogurt giant Chobani has announced its entry into the Turkish market, marking its first international operation. The landmark move comes through a sponsorship deal with Fenerbahce, one of Turkey's most successful sports clubs.
The deal, worth €120 million over a decade, is the most lucrative sponsorship in Turkish sports history. It includes naming rights for Fenerbahce's stadium, the Chobani Stadium Fenerbahce Şükrü Saracoğlu Sports Complex, and jersey sponsorship for European matches.
Hamdi Ulukaya, Chobani's CEO and a man with close ties with Fenerbahce President Ali Koc and Murat Ulker, the honorary president of Turkey's largest food company, Ulker, attended the signing ceremony in Istanbul's Kadikoy district.
Ulukaya has expressed potential plans to launch a Chobani-branded company or enter into a joint venture to begin operations in Turkey. The details and timing remain flexible and exploratory, but the partnership is part of a broader vision for economic investment in Turkey.
The deal aligns with Turkey’s ongoing social and political dynamics, including nationalist backlash due to Ulukaya’s Kurdish heritage, but demonstrates Chobani’s determination to invest despite these challenges. The partnership leverages close connections with Turkish business families and a deep personal and cultural connection to the country, signaling a long-term commitment beyond the sponsorship itself.
The trade volume between the U.S. and Turkey reached $32.6 billion in 2024, and Ulukaya expressed confidence that the two countries will reach the $100 billion trade target set in 2019 by then-presidents Donald Trump and Recep Tayyip Erdogan.
Chobani's expansion in Turkey is a strategic, phased investment plan combining brand establishment, potential local operations, and partnership development to capture the Turkish market’s economic opportunity while leveraging significant cultural ties.
Meanwhile, Ulker, who previously sponsored Fenerbahce with approximately $90 million, has been replaced as the main partner of Fenerbahce's men's basketball team by home appliances company Beko. Interestingly, another significant conglomerate in Turkey, Koc Holding, exited the dairy market by selling its Sek brand in 2021.
In the sports arena, Fenerbahce's men's basketball team won Europe's most prestigious competition, the EuroLeague, in the 2024-2025 season. Sponsorship fees in future years will depend on Fenerbahce's participation in UEFA competitions. The fee for the first season is €10 million, while the European jersey sponsorship is valued at €4 million for the 2025-2026 season.
Ulukaya will continue to lead the U.S.-Türkiye Business Council for another term, further cementing his commitment to fostering economic ties between the two nations. Hamdi Ulukaya aims to contribute to the local agricultural ecosystem through this sponsorship, positioning Chobani as a bridge between the U.S. and Turkey.
Chobani, which has not previously operated outside of the U.S. market, is set to make a significant impact in Turkey, a market with immense potential and a personal connection for its CEO. The company's cautious but ambitious approach to expansion is expected to yield fruitful results in the years to come.
- Chobani's CEO, Hamdi Ulukaya, has plans to launch a Chobani-branded company or enter into a joint venture to begin operations in Turkey, marking the yogurt giant's first international business venture.
- The €120 million sponsorship deal between Chobani and Fenerbahce, one of Turkey's most successful sports clubs, is a strategic move aimed at establishing the brand in the Turkish market.
- Ulukaya, who is of Kurdish heritage, has demonstrated Chobani's determination to invest despite the nationalist backlash in Turkey, aligning with the ongoing social and political dynamics of the country.
- The sponsorship deal includes naming rights for Fenerbahce's stadium, the Chobani Stadium Fenerbahce Şükrü Saracoğlu Sports Complex, and jersey sponsorship for European matches, signaling a long-term commitment beyond the sponsorship itself.
- Chobani's entry into the Turkish market also indicates a broader vision for economic investment in Turkey, with potential to reach the $100 billion trade target between the U.S. and Turkey set by former presidents Donald Trump and Recep Tayyip Erdogan.
