In the news release, LIFEWAY FOODS EXPECTS TO REALIZE
$5 MILLION NET GAIN FROM SALE OF
SIMPLE FOODS TO FLOWERS FOODS, issued 11-Feb-2025 by Lifeway Foods, Inc. over PR
Newswire, we are advised by the company that the headline should
read "LIFEWAY FOODS EXPECTS TO REALIZE $5
MILLION NET GAIN FROM SALE OF SIMPLE MILLS TO FLOWERS
FOODS". The complete, corrected release follows:
LIFEWAY FOODS EXPECTS TO REALIZE $5 MILLION NET GAIN FROM SALE OF
SIMPLE MILLS TO FLOWERS FOODS
Gain comes as a result of early investment in Simple Mills made
by Lifeway in 2015
MORTON
GROVE, Ill., Feb. 11,
2025 /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,
expects to realize approximately $5
million of net profit as a result of the recently announced
sale of Simple Foods to Flowers Foods. Lifeway was an early
investor in Simple Foods in 2015 and since that time, the Company
has already realized a $1.5 million
gain in 2019, bringing the total expected net proceeds to Lifeway
of approximately $6.5 million.
"We extend our congratulations to Simple Mills and its CEO
Katlin Smith for its successful exit
based on the impending $795 million
acquisition by Flowers Foods," said Julie
Smolyansky, Lifeway's CEO. "When we first invested in Simple
Mills we saw the potential growth of the company and we are
delighted that Lifeway's shareholders will benefit from our early
investment," added Ms. Smolyansky.
The acquisition of Simple Mills is subject to regulatory
approval and is projected to close during the first quarter of
2025.
Lifeway's Board of Directors affirms its support for the
management of the Company by Julie
Smolyansky who was responsible for the early investment in
Simple Mills.
About Lifeway Foods, Inc.
Lifeway Foods, Inc., which has been recognized as one of Forbes'
Best Small Companies, is America's leading supplier of the
probiotic, fermented beverage known as kefir. In addition to its
line of drinkable kefir, the company also produces a variety of
cheeses and a ProBugs line for kids. Lifeway's tart and tangy
fermented dairy products are now sold across the United
States, Mexico, Ireland, South Africa, United
Arab Emirates and France. Learn how Lifeway is good for
more than just you at lifewayfoods.com.
Forward-Looking Statements
This release contains
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking
statements include all statements that are not historical
statements of fact and those regarding our intent, belief or
expectations for our business, operations, financial performance or
condition. These statements use words such as "continue,"
"believe," "expect," "anticipate," "plan," "project," "estimate,"
"outlook," and similar expressions or future or conditional verbs
such as "will," "should," "would," "may" and "could." You are
cautioned not to rely on these forward-looking statements. These
forward-looking statements are made as of the date of this press
release, are based on current expectations of future events and
thus are inherently subject to a number of risks and uncertainties,
many of which involve factors or circumstances beyond Lifeway's
control. If underlying assumptions prove inaccurate or known or
unknown risks or uncertainties materialize, actual results could
vary materially from Lifeway's expectations and projections. These
risks, uncertainties and other factors include: price competition;
the decisions of customers or consumers; the actions of
competitors; changes in the pricing of commodities; the effects of
government regulation; possible delays in the introduction of new
products; customer acceptance of products and services; and other
factors discussed in Part I, Item 1A "Risk Factors" of Lifeway's
Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Lifeway expressly disclaims
any obligation to update any forward-looking statements (including,
without limitation, to reflect changed assumptions, the occurrence
of anticipated or unanticipated events or new information), except
as required by law.
Contacts:
Perceptual Advisors
Dan Tarman
Email: dtarman@perceptualadvisors.com
Derek Miller
Vice President of Communications, Lifeway Foods
Email: derekm@lifeway.net
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SOURCE Lifeway Foods, Inc.
