Lifeway Foods Announces Plans to Enter Growing CBD Category with Plantiful + CBD Drinkables
June 20 2019 - 12:45PM
Lifeway Foods, Inc. (Nasdaq:LWAY), the leading U.S. supplier of
fermented dairy and vegan probiotic products, announced today it
plans to enter the growing 10+ billion dollar cannabis market
through Plantiful + CBD, a cannabidiol (commonly known as CBD)
infused version of Lifeway’s probiotic plant-based beverage, once
it is legalized at the federal level by the FDA.
“Mental health is as important as physical well-being, and CBD
shows promise as way to promote lowered anxiety and stress relief.
Science has shown that probiotics are natural inflammation
reducers, and we believe that the addition of CBD will create an
unmatched combination in the beverage space,” said Lifeway Foods
CEO, Julie Smolyansky. “We listen to our consumers and continue to
create innovative products to support healthy guts and minds. We’re
excited about the opportunity to create a plant-based probiotic
beverage with CBD that helps consumers support their physical and
mental wellbeing in a convenient and delicious drink.”
Each ready to drink bottle will feature 10 vegan probiotics and
the benefits of full spectrum CBD. Lifeway anticipates releasing
Plantiful + CBD in a biodegradable 3.5oz bottle. A portion of
proceeds from sales of Lifeway’s Plantiful + CBD will go toward
restorative justice initiatives for those negatively impacted by
U.S. drug policy.
Lifeway is also planning to file a comment in support of the FDA
crafting a science-based structure to support the sale of products
containing CBD. The company urges interested parties to do the same
in an effort to bring products to market that consumers are
demanding.
Plantiful + CBD would follow the success of the initial
Plantiful launch earlier this year. Since the product line’s
release, retailers across channels have been enthusiastically
placing Plantiful single and multi-serve drinks in their stores.
Upon industry debut, Plantiful won the “Best of Expo West 2019”
award from EatingWell at Natural Products Expo West, where
thousands of attendees had the opportunity to sample the delicious
probiotic beverage.
Consumer interest in the cannabidiol market continues to grow as
the cannabis industry in the United States surpasses the $10B mark
with a forecast of over $39.4B by 2023.* The potential launch of
Plantiful + CBD would come at a time when interest is at an
all-time high and the industry is looking for a leader to chart the
path for CBD-infused packaged products. Lifeway Foods intends to
show leadership and product viability in the CBD-infused drinkable
space.
For more information about Lifeway products, please visit
http://lifewaykefir.com. *Source: Cannabis Market by Product
Type
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 non-dairy Plantiful, cupped kefir and cheese, frozen
kefir, specialty cheeses, probiotic supplements and a ProBugs line
for kids. Lifeway's tart and tangy fermented dairy and non-dairy
products are now sold across the United States, Mexico, Ireland and
the United Kingdom. Learn how Lifeway is good for more than just
you at www.lifewaykefir.com.
Get recipe inspiration from Lifeway Foods on Instagram:
http://instagram.com/lifewaykefir Find Lifeway Foods on Facebook:
http://facebook.com/lifewaykefir Follow Lifeway Foods on Twitter:
http://twitter.com/lifeway_kefir Watch clips on YouTube:
http://youtube.com/user/lifewaykefir
Forward-Looking Statements
All statements in this release (and oral statements made
regarding the subjects of this release) contains “forward-looking
statements” as defined in the Private Securities Litigation Reform
Act of 1995 regarding, among other things, future operating and
financial performance, product development, market position,
business strategy and objectives. These statements use words, and
variations of words, such as “expect,” “vision,” “will,” “predict,”
“grow,” and “trend.” Other examples of forward looking statements
may include, but are not limited to, (i) statements of Company
plans and objectives, including the introduction of new products,
or estimates or predictions of actions by customers or suppliers,
(ii) statements of future economic performance, and (III)
statements of assumptions underlying other statements and
statements about Lifeway or its business. You are cautioned not to
rely on these forward-looking statements. These statements are
based on current expectations of future events and thus are
inherently subject to uncertainty. 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; and customer acceptance of
products and services. A further list and description of these
risks, uncertainties, and other factors can be found in Lifeway’s
Annual Report on Form 10-K for the fiscal year ended December 31,
2018, and the Company’s subsequent filings with the SEC. Copies of
these filings are available online at https://www.sec.gov,
http://lifewaykefir.com/investor-relations/, or on request from
Lifeway. Information in this release is as of the dates and time
periods indicated herein, and Lifeway does not undertake to update
any of the information contained in these materials, except as
required by law. Accordingly, YOU SHOULD NOT RELY ON THE ACCURACY
OF ANY OF THE STATEMENTS OR OTHER INFORMATION CONTAINED IN ANY
ARCHIVED PRESS RELEASE.
Company Contact: Derek Miller 847-967-1010
DerekM@Lifeway.net
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/e55a8d06-3a0e-4439-b3d3-a96d7402e9cf
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