- Lifeway Foods, Inc. announced estimated unaudited net sales for the third quarter ended September 30, 2025, to be between **$55.8 million and $57.0 million**.  **[814586_0001683168-25-007417_lifeway_ex9901.htm:0]** **[814586_0001683168-25-007417_lifeway_8k.htm:1]** 
- This represents an estimated increase ranging from **21% to 24%** compared to the same period last year.  **[814586_0001683168-25-007417_lifeway_ex9901.htm:0]** **[814586_0001683168-25-007417_lifeway_8k.htm:1]** 
- The growth is driven by strong consumer demand for the company's flagship Lifeway Kefir and its rapidly expanding high-protein Lifeway Farmer Cheese line.  **[814586_0001683168-25-007417_lifeway_ex9901.htm:0]** 
- To support its growth trajectory, the company is executing a project to nearly double production capacity at its Waukesha facility.  **[814586_0001683168-25-007417_lifeway_ex9901.htm:0]**

Lifeway Foods Projects Estimated Q3 2025 Net Sales

- Lifeway Foods announced **estimated unaudited net sales** for the third quarter ended September 30, 2025, to be between **$55.8 million and $57.0 million**.  **[814586_20251006DC90760:0]** 
- This estimated sales range signifies an increase of **21% to 24%** compared to the same period last year.  **[814586_20251006DC90760:0]** 
- The growth is driven by strong consumer demand for the company's flagship **Lifeway Kefir** and its rapidly expanding **high-protein Lifeway Farmer Cheese** line.  **[814586_20251006DC90760:0]** 
- Lifeway Foods is expanding its distribution into new channels and is undertaking a project to nearly **double production capacity** at its Waukesha facility.  **[814586_20251006DC90760:0]**

- Lifeway Foods, Inc. and Danone North America PBC entered into a **Cooperation Agreement** on **September 30, 2025**, establishing a framework for governance and cooperation through the 2026 annual meeting.  **[814586_0001999371-25-014334_ex99-1.htm:0]** **[814586_0001999371-25-014334_lway-8k_093025.htm:1]** 
- The agreement includes an **orderly refreshment of Lifeway's board of directors**, with **three new independent directors** to be appointed by **October 30, 2025**, and a fourth by **November 14, 2025**.  **[814586_0001999371-25-014334_ex99-1.htm:0]** **[814586_0001999371-25-014334_lway-8k_093025.htm:1]**  Additionally, the **Chair and CEO roles will be separated** by **October 30, 2025**, with an independent director appointed as Chair.  **[814586_0001999371-25-014334_ex99-1.htm:0]** **[814586_0001999371-25-014334_ex4-1.htm:6]** 
- The **pending litigation** related to Danone's Stockholders' Agreement with Lifeway will be **stayed**.  **[814586_0001999371-25-014334_ex99-1.htm:0]** **[814586_0001999371-25-014334_lway-8k_093025.htm:1]** 
- Danone has committed to **not supporting proposals** from the Edward and Ludmila Smolyansky consent solicitation and will **vote in favor of the Board's recommended director candidates** at the 2025 and 2026 annual meetings.  **[814586_0001999371-25-014334_ex99-1.htm:0]** **[814586_0001999371-25-014334_lway-8k_093025.htm:2]** **[814586_0001999371-25-014334_ex4-1.htm:6]** 
- Lifeway will file a **shelf registration statement by October 30, 2025**, to facilitate the potential sale of Danone's shares, and Danone will consider a marketed offering if it decides to sell its stake.  **[814586_0001999371-25-014334_ex99-1.htm:1]** **[814586_0001999371-25-014334_lway-8k_093025.htm:2]** **[814586_0001999371-25-014334_ex4-1.htm:10]**

Lifeway Foods, Inc. and Danone Sign Cooperation Agreement

- Lifeway Foods, Inc. and Danone North America PBC have entered into a **Cooperation Agreement**.  **[814586_20250930DC87724:0]** 
- The agreement includes a **board refreshment**, with Lifeway's Board appointing **three independent directors by October 30, 2025**, and **one additional independent director by November 14, 2025**.  **[814586_20250930DC87724:1]**  The Board will also **separate the Chair and CEO roles** by the earlier of October 30, 2025, or the appointment of the third new independent director, with an independent director serving as Chair.  **[814586_20250930DC87724:1]** 
- The **pending litigation** pertaining to Danone's Stockholders' Agreement with Lifeway will be **stayed**.  **[814586_20250930DC87724:0]** **[814586_20250930DC87724:1]** 
- Danone has agreed not to vote or deliver consent in favor of proposals in the ongoing consent solicitation by Edward and Ludmila Smolyansky and will support the Board's recommended director candidates at the 2025 and 2026 annual meetings.  **[814586_20250930DC87724:0]** **[814586_20250930DC87724:1]**  Lifeway will also file a **shelf registration statement by October 30, 2025**, to facilitate a potential sale of Danone's shares.  **[814586_20250930DC87724:1]**

Lifeway and Danone Sign Cooperation Agreement

- **Danone has withdrawn its proposal to acquire Lifeway Foods, Inc.**, as announced on **September 18, 2025**.  **[814586_0001999371-25-013500_ex99-1.htm:0]** 
- Lifeway Foods, Inc. affirmed its commitment to executing its strategic plan and exploring other value-enhancing opportunities for shareholders.  **[814586_0001999371-25-013500_ex99-1.htm:0]** 
- The company reported **record net sales of $53.9 million in Q2 2025**, an **18% year-over-year increase**, and **$39.1 million in unaudited net sales for the first two months of Q3 2025**, a **20% year-over-year increase**.  **[814586_0001999371-25-013500_ex99-1.htm:0]** 
- Lifeway has achieved **22 consecutive quarters of growth**.  **[814586_0001999371-25-013500_ex99-1.htm:0]**

Lifeway Foods comments on Danone acquisition proposal withdrawal

- **Lifeway Foods, Inc.** announced that **Danone has withdrawn its proposal to acquire the company**.  **[814586_20250918DC76998:0]** 
- The company reaffirmed its commitment to **driving shareholder value** by executing its strategic plan and focusing on growth, following the unsolicited proposal.  **[814586_20250918DC76998:0]** 
- Lifeway reported **record net sales of $53.9 million in Q2 2025**, an **18% year-over-year increase**, and **$39.1 million in unaudited net sales for the first two months of Q3 2025**, a **20% year-over-year increase**.  **[814586_20250918DC76998:0]** 
- This performance contributes to Lifeway's track record of **22 consecutive quarters of growth**.  **[814586_20250918DC76998:0]**

Lifeway Foods Comments on Danone Acquisition Proposal Withdrawal

- **Lifeway Foods** has completed **stage one** of a multi-million dollar expansion at its **Waukesha, Wisconsin facility**, which aims to **double production capacity** and drive a significant hiring ramp-up.  **[814586_20250912DC72703:0]** 
- The company reported **record net sales of $53.9 million in Q2 2025**, an **18% year-over-year increase**, and unaudited net sales of **$39.1 million** for the first two months of Q3 2025, representing a **20% year-over-year increase**.  **[814586_20250912DC72703:0]** 
- The full expansion is anticipated to be operational by **Q3 2026**, supporting **Lifeway's 22 consecutive quarters of growth** and its over 90% share of the U.S. kefir market.  **[814586_20250912DC72703:0]**

Lifeway Foods (LWAY)