Lifeway Foods expects 2024 net sales up ~16% YoY; reiterates rejection of Danone's $27/share bid

Lifeway Foods, Inc.

Preliminary Q4 2024 net sales $45.1M-$46.6M vs $42.1M in Q4 2023; full-year net sales $185M-$186.5M vs $160.1M in 2023.
Board reaffirms Danone's $27/share offer undervalues company; cites 2027 adjusted EBITDA forecast of $45M-$50M.
CEO Julie Smolyansky's amended employment agreement includes two-year non-compete and change-in-control provisions.
Lifeway disputes Danone's interpretation of 1999 Shareholder Agreement under Illinois law; argues agreement invalid for public company.
Company highlights 21 consecutive quarters of growth through Q4 2024 and 788% total shareholder return over five years.

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