LIFEWAY FOODS REJECTS REVISED UNSOLICITED PROPOSAL FROM DANONE

Core Viewpoint - Lifeway Foods' Board of Directors has rejected Danone North America's unsolicited acquisition proposal of $27.00 per share, citing that it undervalues the company and is not in the best interests of its shareholders and stakeholders [1][2]. Company Performance - Lifeway has achieved its 20th consecutive quarter of growth, with double-digit year-over-year revenue growth and improved profit margins reported in Q3 2024 [3]. - Over the past five years, Lifeway has delivered total shareholder returns of 788%, and 270% over the past three years, significantly outperforming high-growth food and beverage peers and the S&P 500 [3]. Strategic Focus - The company remains committed to executing its strategic plan to expand kefir distribution and enter adjacent product categories [3][4]. - Lifeway aims to unlock additional shareholder value and is dedicated to acting in the best interests of all shareholders [4]. Advisory Support - Evercore is serving as the financial advisor, while Sidley Austin LLP is providing legal counsel to Lifeway [4].