Lifeway Foods Announces Share Repurchase Program

MORTON GROVE, Ill., June 28, 2021 (GLOBE NEWSWIRE) – Lifeway Foods, Inc. (Nasdaq: LWAY) (“Lifeway” or “the Company”), the leading US manufacturer of kefir and fermented probiotic products, announced today that Lifeway’s board of directors has approved a new share buyback program of up to 250,000 shares. Under such a program, Lifeway Foods may repurchase up to 250,000 common shares of the company in the open market within two years from the effective date of the program. The company will use its available cash generated by the operation to fund the share buyback program.

“This buyback program reflects our confidence in the overall business of Lifeway and the successful implementation of our Lifeway 2.0 strategy,” said Lifeway CEO Julie Smolyansky. “The strong financial results that we achieved over the past year have strengthened our reserves and our decision to buy back and return capital to our shareholders in these.”

About Lifeway Foods
Lifeway Foods, Inc., named one of Forbes’ Best Small Businesses, is America’s premier supplier of the probiotic fermented drink known as kefir. In addition to its drinkable kefir line, the company also produces cheese and a ProBugs line for children. Lifeway’s tart and flavorful fermented dairy products are now sold in the United States, Mexico, Ireland and the UK. Find out at lifewayfoods.com how Lifeway is not only good for you.

Forward-Looking Statements
All statements in this press release (and oral statements relating to the subject of this press release) contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, future operating and financial performance, product development, market position, business strategy and objectives. These statements use words and variations of words such as “expect”, “vision”, “will”, “predict”, “grow” and “trend”. Other examples of forward-looking statements may include, but are not limited to (i) statements about the company’s plans and objectives, including new product launches, or estimates or predictions of actions by customers or suppliers, (ii) statements about future economic performance and (III) statements about assumptions underlying other statements and statements about Lifeway or its business. You are cautioned not to place undue reliance on these forward-looking statements. These statements are based on current expectations of future events and are therefore inherently subject to uncertainties. If the underlying assumptions prove inaccurate or if known or unknown risks or uncertainties materialize, actual results could differ materially from Lifeway’s expectations and forecasts. These risks, uncertainties, and other factors include: price competition; the decisions of customers or consumers; the actions of competitors; Changes in the pricing of raw materials; the effects of government regulation; possible delays in introducing new products; and customer acceptance of products and services. For a further list and description of these risks, uncertainties, and other factors, see Lifeway’s Annual Report on Form 10-K for the year ended December 31, 2020 and the company’s subsequent filings with the SEC. Copies of these filings are available online at https://www.sec.gov, http://lifewaykefir.com/investor-relations/ or upon request from Lifeway. The information in this press release is for the dates and periods specified herein, and Lifeway makes no commitment to update the information contained in these materials except as required by law. Accordingly, YOU SHOULD NOT RELY ON THE ACCURACY OF THE STATEMENTS OR OTHER INFORMATION IN ARCHIVED PRESS RELEASES.

Company contact:
Derek Miller
847-967-1010
DerekM@Lifeway.net