US-based dairy products company Lifeway Foods has rejected a revised proposal by Danone North America PBC to buy all remaining shares of the company at $27 per share.
Lifeway’s board of directors made the decision after careful consideration, conducted in consultation with its independent financial and legal advisors.
According to the company, Danone’s revised proposal undervalues the business and is not in the best interests of its shareholders or other stakeholders.
Furthermore, Lifeway said it will focus on executing its strategic plan to bring kefir to more households while expanding into adjacent categories.
Evercore served as a financial advisor to Lifeway and Sidley Austin as legal counsel to Lifeway, on this transaction.
In a separate development, Lifeway Foods has launched its latest functional beverage product, dubbed Probiotic Smoothie + Collagen, made with kefir cultures.
The new beverages are offered in Matcha Latte, Berry Blast, Tropical Fruit, and Plain flavours, contain 5g of collagen in each serving, and are lactose-free.
Probiotic Smoothie + Collagen will be the first probiotic collagen smoothie with kefir cultures.
Lifeway has been developing the product line since 2021 and will start shipping it to select independent and speciality stores nationwide.
Lifeway Foods president and CEO Julie Smolyansky said: “The benefits of kefir have been one of the best-kept secrets in the beauty, wellness and celebrity industries for years.
“The beauty hack can be credited to the ancient Egyptians, Cleopatra used to bathe in kefir to help soothe and smooth her skin.
“The trend has since evolved for celebrities, where they have seen a larger impact by consuming the kefir.”
According to the research, gut and skin health are interconnected through a two-way communication system, known as the gut-skin axis, which plays a key role in overall health.
Lifeway’s new Probiotic Smoothie + Collagen line is anticipated to support the gut-skin axis through a unique combination of 12 live and active cultures.
The new line also uses 25 to 30 billion beneficial Colony Forming Units (CFUs), and 5g of collagen per serving, to support skin hydration, elasticity, and smoothness.
The beverages also support a healthy microbiome, where Kefir naturally provides high-quality bioavailable nutrients such as Vitamins A, B, and D, protein, and essential fatty acids.
Smolyansky added: “Margot Robbie worked with skin expert, Jasmina Vico, on the Barbie movie to achieve her natural movie star glow on air.
“Once it went viral that Vico recommends fermented foods, like kefir, as a key component in skincare routines, we tracked a surge of consumer interest for kefir’s holistic benefits and knew the market was ready for our Probiotic Smoothie + Collagen.”
