Lifeway Foods Inc., Morton Grove, Ill., said it purchased rival Kefir processor Fresh Made Inc., Philadelphia, in a stock transaction valued at $14.05 million. The major catalyst behind this acquisition is the growing demand for probiotic and functional dairy products," said Lifeway President & CEO Julie Smolyansky. Lifeway said it would retain all Fresh Made employees. Lifeway said its Chief Financial Officer Edward Smolyansky will assume the role of Fresh Made president and chief executive officer.
Lifeway buys Kefir competitor Fresh Made
February 9, 2009