Lifeway CEO Julie Smolyansky
announces substantial new distribution during Gulfood Manufacturing
exhibition
DUBAI, UAE, Nov. 7, 2024
/PRNewswire/ -- Lifeway Foods, Inc. (Nasdaq: LWAY) ("Lifeway" or
"the Company"), a leading U.S. manufacturer of kefir and fermented
probiotic products, announced today an expanded distribution
agreement in the United Arab
Emirates market. The offering of 32oz Lifeway Kefir, 8oz
Lactose-Free Lifeway Kefir, ProBugs and farmer cheese, exported
from the United States, is
expected to begin shipping in the fourth quarter of 2024 and will
become available in supermarkets and hypermarkets in Dubai and across the Emirates. The
announcement was made by Lifeway President and CEO Julie Smolyansky during the Gulfood
Manufacturing trade show in Dubai on Nov 5-7, 2024.
"We are excited to further expand Lifeway's presence in the
United Arab Emirates," said
Lifeway President and CEO Julie
Smolyansky. "As the leading kefir brand in the United States, we have the connections and
capacity to scale items internationally when we see great
opportunities. Our ProBugs kefir for kids and Farmer Cheese, often
known internationally as Twaróg, will be excellent companions on
the shelf with our existing kefir items, our increased selection of
core 32oz kefir and new 8oz Lactose-Free flavors. Trade is one of
the best forms of diplomacy, and we look forward to doing our part
as we provide probiotic Lifeway products with bioactive nutrients
to consumers in more countries in the years to come."
According to Global Market Insights, the global kefir
market is projected to grow at a CAGR of over 6.3% and reach
$4.9 billion USD by 2032.
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 in 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 (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, 2023, 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.
Media:
Derek Miller
Vice President of Communications, Lifeway Foods
Email: derekm@lifeway.net
General inquiries:
Lifeway Foods, Inc.
Phone: 847-967-1010
Email: info@lifeway.net
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