Lifeway Foods, Inc., makers of a nutritious, probiotic dairy beverage called Kefir, announced today Lifeway's Board of Directors approved a new share repurchase program of up to 200,000 shares. Under such a program, Lifeway Foods may repurchase up to 200,000 shares of the Company's Common Stock through the open market within a period of one year from the date of the first purchase. The Company will use its available cash resources to fund the stock repurchase program.
Julie Smolyansky, Lifeway's CEO, commented, "We are very pleased that our Board of Directors has approved this share repurchase program as we feel, at this time, investing in our own company is the best investment out there for us. This new 200,000 share approval demonstrates our continuing commitment to growth and enhancing shareholder value. This buyback will be funded through our internal operating cash flows."
Lifeway Foods, Inc.
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About Lifeway Foods
Lifeway Foods, Inc., recently named one of Fortune Small Business' Fastest Growing Companies for the 4th consecutive year, is America's leading supplier of the cultured dairy product known as Kefir, and America's sole supplier of Organic Kefir. Lifeway Kefir is a dairy beverage that contains 10 exclusive live and active probiotic cultures. While most regular yogurt contains only two or three of these "friendly" cultures, Lifeway Kefir products offer even more nutritional benefits. Lifeway produces 12 different flavors of its drinkable Kefir and Organic Kefir beverage, and recently introduced a series of innovative new products such as a children's line of Organic Kefir products called ProBugs (TM) with a no-spill pouch and kid-friendly flavors like Orange Creamy Crawler, Goo Berry Pie, and Sublime Slime Lime. In addition to its line of Kefir products, the company produces a variety of probiotic cheese products, and a line of products marketed in US Hispanic communities called La Fruta Drinkable Yogurt (yogurt drinks distinct from Kefir).