---
schema_version: "secwatch.filing_event.v1"
accession: "0001999371-25-000134"
form_type: "8-K"
ticker: "LWAY"
cik: "0000814586"
company_name: "Lifeway Foods, Inc."
filed_at: "2025-01-06T23:59:59+00:00"
generated_at: "2026-05-28T11:48:52.964221+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001999371-25-000134
- form_type: 8-K
- ticker: LWAY
- cik: 0000814586
- company_name: Lifeway Foods, Inc.
- filed_at: 2025-01-06T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/814586/000199937125000134/0001999371-25-000134-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/814586/000199937125000134/lway-8k_010625.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001999371-25-000134
- JSON: https://secwatch.observer/filing/0001999371-25-000134.json
- Plain text: https://secwatch.observer/filing/0001999371-25-000134.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.