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Lifeway Foods is using Longacre Square Partners as it receives a non-solicited and non-binding takeover offer from the US arm of France’s Danone, the world’s No. 1 marketer of fresh dairy products.
Danone North America, which already owns 23.4 percent of the marketer of kefir and a range of fermented probiotic products, wants to acquire the remaining outstanding stake in the Morton Grove, IL-headquartered company.
The targeted company’s board promises to carefully review Danone’s offer, and then determine what course of action would serve the best interests of shareholders.
Lifeway CEO Julie Smolyansky recorded an 18.6 percent jump in Q2 net income to $3.8M, and a 25.3 percent increase in revenues to $49.2M. It has chalked up 19 consecutive quarters of sales growth.
Lifeway’s products are sold in the US, Mexico, Ireland and France.
Longacre Square’s Joe Germani and Miller Winston represent Lifeway.
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