Lifeway Foods, Inc. announced on January 6, 2025, that its Board of Directors reaffirmed its rejection of Danone North America PBC's offer to acquire the Company, stating it severely undervalues Lifeway. This response followed a letter sent by Danone on December 30, 2024.
The Company further declared that the 1999 Stockholders agreement between Lifeway and Danone violates Illinois law and intends to pursue all available remedies to nullify the agreement. Lifeway stated that an invalid agreement does not become valid simply by being followed for a period of time.
Lifeway also projected full year 2024 net sales to range between $185.0 million to $186.5 million, a significant increase from $160.1 million in 2023. CEO Julie Smolyansky highlighted 21 consecutive quarters of growth through the fourth quarter of 2024, demonstrating the efficacy of Lifeway's business strategy.
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