Lifeway’s Independent Directors Support CEO Julie Smolyansky and Lifeway 2.0 Strategy
March 01 2022 - 1:30PM
Lifeway Foods, Inc. (Nasdaq: LWAY) (“Lifeway” or “the Company”),
the leading U.S. supplier of kefir and fermented probiotic products
to support the microbiome, today issued a response to the recent
13D filing. The independent Directors of the Board issued the
following response:
“Lifeway’s independent Directors fully supports CEO
Julie Smolyansky and her continued execution of the Lifeway
2.0 strategy. Julie has consistently delivered growth for the
Lifeway brands during her tenure as CEO. We believe the Company is
reaching an important inflection point supported by ongoing
research around probiotics and their influence on gut health,
mental health and immunity, all of which are especially important
with the impact of Covid-19. Her execution of the Lifeway 2.0
strategy and transition into Lifeway 3.0 has already delivered
significant results for our stockholders including eight
consecutive quarters of year-over-year net sales increases.
Further, we believe new product innovation with the recent
introduction of Lifeway Oat, a probiotic cultured oat drinkable and
the recent expansion into drinkable yogurt through the acquisition
of GlenOaks Farms will drive future success and we look forward to
continued growth under her leadership.”
As fiduciaries to stockholders, the Board of Directors will
consider all ideas to deliver long term value.
“I am grateful and appreciate the Board’s support through these
challenging times. My loyalty lies with our Company, our brand, our
customers, our employees, our shareholders, and my father’s
legacy,” said Lifeway CEO Julie Smolyansky.
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 cheese and a
ProBugs line for kids. Lifeway's tart and tangy fermented dairy
products are now sold across the United States, Mexico, Ireland,
France and the United Kingdom. Learn how Lifeway is good for more
than just you at lifewayfoods.com.
Forward-Looking Statements
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 “continue,” “build,” “future,” “increase,” “drive,”
“believe,” “look,” “ahead,” “confident,” “deliver,” “outlook,”
“expect,” and “predict.” 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, 2020,
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.
Contact:
Lifeway Foods, Inc.
Phone: 847-967-1010
Email: info@lifeway.net
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