MORTON GROVE, Ill.--Aug. 19, 2003--Lifeway Foods, Inc. (Nasdaq: LWAY) today announced the expansion of its La Fruta(TM) product line, a drinkable yogurt specifically designed to appeal to Hispanic consumers. The La Fruta beverage now will be available in horchata and tres leche flavors as well as the original four fruit-based varieties. The company is also introducing a spreadable cheese in the tres leche flavor under the La Fruta brand.
The product additions reflect La Fruta's success since it was introduced in strawberry, banana-strawberry, mango and pina colada varieties in 2001. La Fruta is now sold nationwide through the Save-a-Lot chain and other retail and specialty grocery stores in Hispanic neighborhoods, with distribution continuing to expand. The new La Fruta products are expected to appear on store shelves by early September.
"We created La Fruta to tap into the fastest-growing demographic market in the United States, and it has proved to be an exceptionally strong addition to our product portfolio," said Julie Smolyansky, President of Lifeway Foods. "We expect the two new flavors and the new cheese to help us continue to build the brand and drive additional revenues among Hispanic customers."
La Fruta is a variation on Lifeway Kefir, a dairy beverage that combines the creaminess of a milkshake or smoothie with the tang of yogurt. La Fruta contains essential vitamins, one-third of an individual's daily calcium needs, 8 grams of protein, and "good" bacteria in the form of live and active cultures that have been shown to promote gastrointestinal health and other health benefits.
Lifeway, named Chicago's 28th fastest-growing public firm by Crain's Chicago Business last week, 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 Canada. The Company also participates in the organic and soy markets with Lifeway Organic(TM), Organic Kefir and Kefir Cheese, and America's first soy kefir called SoyTreat(TM).
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 annual reports on Form 10-K filed with the Securities and Exchange Commission.