Lifeway Foods Announces Full Product Line Price Increase
MORTON GROVE, Ill., Nov. 29 /PRNewswire-FirstCall/ -- Lifeway Foods, Inc.,
(Nasdaq: LWAY), makers of a nutritious, probiotic dairy beverage called Kefir,announced today that it will implement a price increase of approximately10-15% on it's full catalog of products. This price increase will go intoeffect in December 2007.
Julie Smolyansky, Lifeway's CEO, commented, "We would like to reiteratethat our main goal at this time as a growing company in a competitive foodindustry is to continue to grow our revenues, build a strong brand, and expandour loyal customer base, and part of this strategy has and will continue to beto maintain a relatively lower price on a per ounce basis when compared toother similar products on the market. However, given the current environmentof historically high raw material prices as well as other rising costs, aprice increase was necessary. We are confident given the uniqueness of ourKefir products and our dominance in the Kefir market, our past priceadjustment experiences, conversations with our customers, as well as thehigher current price environment for similar products, this price increaseshould have no negative impact on our unit sales."
About Lifeway Foods
Lifeway, recently named Fortune Small Business' 97th Fastest Growing SmallBusiness, and one of only 4 companies to ever be named to the list fourstraight years in a row, is America's leading supplier of the cultured dairyproduct known as kefir, and now America's only supplier of Organic Kefir.Lifeway Kefir is a dairy beverage that contains Lifeway's exclusive 10 Liveand Active probiotic cultures. While most regular yogurt only contains two orthree of these "friendly" cultures, Lifeway kefir products offer morenutritional benefits. Lifeway offers 12 different flavors of its Kefirbeverage, Organic Kefir and SoyTreat (a soy based kefir). Lifeway recentlyintroduced a series of innovative new products such as pomegranate kefir,Greek-style kefir, a children's line of organic kefir products calledProBugs(TM) in a no-spill pouch in kid-friendly flavors like Orange CreamyCrawler and Sublime Slime Lime, and a line of organic whole milk kefir.Lifeway also produces a line of products marketed in US Hispanic communities,called La Fruta, Drinkable Yogurt (yogurt drinks distinct from kefir). Inaddition to its line of Kefir products, the company produces a variety ofcheese products and recently introduced a line of organic pudding called It'sPudding!.
For more information, contact Julie Smolyansky at Lifeway Foods, Inc. at
(847) 967-1010 or e-mail at email@example.com and visit http://www.lifeway.net.
This news release contains forward-looking statements. Investors arecautioned that actual results may differ materially from such forward-lookingstatements. Forward-looking statements involve risks and uncertaintiesincluding, but not limited to, competitive pressures and other importantfactors detailed in the Company's reports filed with the Securities andExchange Commission.SOURCE Lifeway Foods, Inc.Julie Smolyansky of Lifeway Foods, Inc., +1-847-967-1010, firstname.lastname@example.org