US: Lifeway Foods posts “record” third quarter

By: just-food.com | 5 October 2009

Probiotics firm Lifeway Foods said its sales increased 37% for the third quarter, boosted by continued growth of its Kefir brand.

For the period to 30 September, total consolidated sales increased to US$154m from $11.2m in the comparable quarter of 2008.

The company's existing lines grew 17% to around $13.2m, Lifeway said, and the recently acquired Freshmade Dairy recorded revenues of around $2.2m during the third quarter.

CEO Julie Smolyansky said: "We are extremely pleased at the record results of our third quarter 2009. We are particularly encouraged that the growth of our existing brands was almost entirely same store, organic growth.

She added: "The awareness of our Kefir continues to grow everyday, and we are confident our third quarter momentum will continue into the four quarter as we will be rolling out several new products, and expanding into new distribution channels such as convenience stores."

Next week, the company said it will begin shipments of its "holiday inspired" Kefir, Cranberry Creme Brule to retailers throughout the US. The flavour will only be available for a limited time.

Sectors: Dairy

Companies: Lifeway Foods