Lifeway Foods Acquires Fresh Made Dairy
Lifeway Foods Inc., makers of a probiotic dairy beverage called Kefir, announce the acquisition of Fresh Made Dairy, its top competitor in the Kefir market with a No. 2 overall market share. The acquisition is expected to strengthen Lifeway's presence in the growing market for probiotic dairy products. Fresh Made had 2008 total sales of approximately $10 million and 2007 total sales of approximately $8,500,000.
"The major catalyst behind this acquisition is the growing demand for probiotic and functional dairy products," says Lifeway Foods' CEO Julie Smolyansky. "For over 20 years, both companies have spent a large amount of time, energy, and money fiercely competing against one another in the same market space. Today, with the completion of the acquisition, we couldn't be more excited about being able to shift our focus, and combine our resources to growing and expanding the whole probiotic category," Smolyansky adds.
"The major catalyst behind this acquisition is the growing demand for probiotic and functional dairy products," says Lifeway Foods' CEO Julie Smolyansky. "For over 20 years, both companies have spent a large amount of time, energy, and money fiercely competing against one another in the same market space. Today, with the completion of the acquisition, we couldn't be more excited about being able to shift our focus, and combine our resources to growing and expanding the whole probiotic category," Smolyansky adds.