Lifeway Foods, Inc., a pioneer in the realm of fermented dairy products, is on the brink of celebrating a significant financial boost estimated at $5 million, thanks to the successful sale of Simple Mills to Flowers Foods, Inc. Lifeway’s journey with Simple Mills began in 2015, when they first recognized its potential.
This strategic investment brought in a $1.5 million profit in 2019.
Now, with this recent sale, Lifeway is looking at an impressive overall return of around $6.5 million from their involvement with Simple Mills.
Leadership Commendation
Julie Smolyansky, Lifeway’s CEO, shared her excitement about the growth and success of Simple Mills, commending its CEO, Katlin Smith, for her leadership that paved the way for Flowers Foods’ remarkable $795 million acquisition.
Smolyansky highlighted Lifeway’s insightful decision to invest early, underlining the foresight it took to see Simple Mills as a thriving opportunity, with positive ramifications for Lifeway’s shareholders.
Regulatory Approvals and Future Prospects
As the sale awaits the necessary regulatory approvals, it is expected to close in the first quarter of 2025.
This development, first announced in early January, represents a pivotal moment for both Simple Mills and Lifeway, showcasing the company’s dedication to cultivating fruitful collaborations within the industry.
Source: Foodbusinessnews