Lifeway Foods, Inc. (Nasdaq: LWAY) announced today that its Common Stock started trading on the Nasdaq National Market System effective immediately. The Company’s symbol will remain LWAY.
“We are very excited that Lifeway reached this milestone,” said Michael Smolyansky, President and CEO. “It will provide our company and its shareholders with many advantages of a broader market. This move is a result of our impressive performance in the small cap markets, our company’s financial strength, and aggressive growth in the health and functional food markets. This news is a further testimony of our strong market position and compelling strategy. Now we are in the best possible market to maximize the return to our shareholders as we grow our Company.”
Smolyansky added, “We feel comfortable with our goal to increase revenues by 25 percent for the year as we broaden our market share and continuously add production capacity in our new processing plant. Our strategic relationship with Groupe Danone, one of the world’s largest food processor, will help us increase distribution of our products in the US.”
Lifeway is a manufacturer of cultured, probiotic and functional food products in the health food industry, and is America’s leading supplier of the cultured dairy product known as kefir. The Company markets 12 flavors of kefir and does a successful business exporting its products to Eastern Europe. The Company recently introduced a dairy based immune-supporting dietary supplement beverage called Basics Plus(TM), as well as Kefir Starter for consumers to make kefir at home or in travel. With the recent introduction of America’s first non-dairy soy kefir called SoyTreat(TM), the Company is entering into the soy milk market.
This press release contains “forward-looking statements” Investors are cautioned that actual results may differ materially from such forward-looking statements. Forward-looking statements involve risk and uncertainties including, but not limited to, competitive pressures and other important factors detailed in the Company’s reports filed with the Securities and Exchange Commission.