Company Overview - Lifeway Foods is a leading US supplier of kefir and fermented probiotic products, recognized as one of Forbes' Best Small Companies [6] - The company produces drinkable kefir, cheeses, and a ProBugs line for kids, with products sold in the US, Mexico, Ireland, South Africa, UAE, and France [6] Financial Performance - Lifeway's 2024 net sales are projected to range between $185.0 million to $186.5 million, up from $160.1 million in 2023 [3][8] - Preliminary unaudited Q4 2024 net sales are estimated between $45.1 million to $46.6 million [8] - The company has achieved 21 consecutive quarters of growth through Q4 2024 [5] - Lifeway delivered double-digit year-over-year revenue growth in Q3 2024 [5] - Total shareholder returns reached 788% over the past five years and 270% over the past three years as of September 23, 2024 [5] Acquisition Proposal - Lifeway's Board rejected Danone's acquisition offer, stating it severely undervalued the company based on independent financial and legal analysis [1] - The Board is open to a sale at a price that accurately reflects the company's true value [1] - Lifeway claims the 1999 Stockholders agreement with Danone violates Illinois law and intends to pursue legal remedies to nullify it [2] Leadership and Strategy - CEO Julie Smolyansky has led the company through a period of significant growth and success [5] - The Board believes Smolyansky's continued leadership is critical to the success of the company's standalone business plan [5] - Lifeway is assessing its relationship with Danone and exploring ways to protect the company's and shareholders' interests [4]

LIFEWAY FOODS, INC. 8-K SIDLEY AUSTIN LLP ONE SOUTH DEARBORN STREET CHICAGO, IL 60603 +1 312 853 7000 +1 312 853 7036 FAX +1 312 853 7621 JDUCAYET@SIDLEY.COM January 6, 2025 By email Mr. Shane Grant Danone Deputy CEO President & CEO of Danone North America PBC CEO Americas and EVP Dairy, Plant-Based and Global Sales 1 Maple Avenue White Plains, NY 10605 Re: Danone's Letter Dated December 30, 2024 Dear Mr. Grant: On behalf of the board of directors ("Board") of Lifeway Foods, Inc. ("Lifeway" or the "Company" ...

MORTON GROVE, Ill., Dec. 11, 2024 /PRNewswire/ -- Lifeway Foods, Inc. (Nasdaq: LWAY) ("Lifeway" or "the Company"), a leading U.S. manufacturer of kefir and fermented probiotic products, announced the distribution of its ProBugs Organic Kefir for kids at more than 250 Harris Teeter retail stores. The featured flavors include Strawnana and Goo-berry ProBugs, available in single-serve pouches. Lifeway ProBugs ProBugs kefir for kids is made with organic whole milk, plus Lifeway's signature 12 live and acti ...

CHICAGO, Nov. 22, 2024 /PRNewswire/ -- Edward and Ludmila Smolyansky ("Founding Shareholders"), who together exercise voting control with respect to approximately 29.7% of the outstanding shares of common stock of Lifeway Foods, Inc. (NASDAQ: LWAY), today called for Lifeway's board of directors to take several actions, including immediately establishing an independent special committee to evaluate and negotiate a transaction with Danone or other potential buyers.This follows a proposal by Danone North Ameri ...

Leading U.S. Kefir Brand Announces Functional Beverage Made with Kefir Cultures to Support Skin Health, Immune System and the MicrobiomeMORTON GROVE, Ill., Nov. 20, 2024 /PRNewswire/ -- Lifeway Foods, Inc. (Nasdaq: LWAY), a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome, has announced its latest functional beverage innovation: Probiotic Smoothie + Collagen made with kefir cultures. Available in four delicious flavors – Matcha Latte, Berry Blast, Tropical Fruit, and ...

MORTON GROVE, Ill., Nov. 20, 2024 /PRNewswire/ -- Lifeway Foods, Inc. (NASDAQ: LWAY) (the "Company"), a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome, today announced that its Board of Directors has rejected the revised unsolicited proposal made on November 15, 2024 by Danone North America PBC ("Danone") to acquire all the shares of Lifeway that it does not already own for $27.00 per share.After careful and thorough consideration, conducted in consultation with it ...

Lifeway Foods, Inc. (LWAY) posted third-quarter 2024 results, with the top line increasing year over year but falling short of the Zacks Consensus Estimate. Meanwhile, the bottom line declined year over year and missed the consensus mark as well. Lifeway Foods marked its 20th consecutive quarter of net sales growth. The quarter marked the second-highest quarterly net sales in the company's history, driven by the strong performance of its flagship product, Lifeway Kefir. Looking ahead, Lifeway intends to str ...

MORTON GROVE, Ill., Nov. 15, 2024 /PRNewswire/ -- Lifeway Foods, Inc. (NASDAQ: LWAY) ("Lifeway" or the "Company"), a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome, confirmed that it has received a revised, unsolicited, non-binding proposal from Danone North America PBC ("Danone") to acquire all outstanding shares of common stock of Lifeway it does not already own for $27.00 per share in cash. According to the Schedule 13D amendment filed today with the U.S. Securi ...

Lifeway Foods, Inc. (NASDAQ:LWAY) Q3 2024 Earnings Conference Call November 14, 2024 9:00 AM ET Company Participants Julie Smolyansky - President and Chief Executive Officer Conference Call Participants Operator Good morning. Welcome to Lifeway Foods' Third Quarter 2024 Conference Call. On the call with me today is, Julie Smolyansky, President and Chief Executive Officer. By now everyone should have access to the press release that went out this morning. If you have not received the release, it is available ...

Lifeway Foods (LWAY) came out with quarterly earnings of $0.19 per share, missing the Zacks Consensus Estimate of $0.27 per share. This compares to earnings of $0.23 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -29.63%. A quarter ago, it was expected that this dairy and cheese company would post earnings of $0.17 per share when it actually produced earnings of $0.25, delivering a surprise of 47.06%.Over the last four quarte ...