Danone Proposes $283 Million Acquisition to Buy Remaining Stake in Lifeway Foods
Source: DairyNews.today
Danone has made an offer to acquire the remaining shares of kefir products maker Lifeway Foods, which it does not already own, for approximately $283 million, or $25 per share. The offer, which represents a 59% premium to Lifeway's recent average share price, reflects Danone's long-term interest in the company, where it already holds a 23.4% stake.
Lifeway, known for its kefir and probiotic products, has posted impressive growth, with record sales of $160 million in 2023.
The acquisition offer comes at a time when Lifeway is facing internal challenges, including a family dispute and calls from shareholders for a sale. Danone, which has been a shareholder for over two decades, sees potential in integrating Lifeway into its portfolio of health-focused dairy brands, including Activia. Lifeway has acknowledged receiving the proposal and is reviewing it to determine its next steps.
Image by fooddive.com
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