The transaction builds on Lifeway’s successful entry into the children’s market with its ProBugs line of children’s organic kefir, opens potential new distribution channels for existing Lifeway products, and marks the first step in a strategic diversification into non-dairy-based health beverages.
First Juice recorded over $1.7m in sales in 2009 after just two years in business, reflecting parents’ rising interest in providing their children with natural foods.
Lifeway’s acquisition of First Juice assets is expected to close 4 October 2010. The purchase price for the assets of the company was $220,000. Julie Smolyansky had previously served as a board member of First Juice Inc since 2006.
The transaction is Lifeway’s third acquisition in four years. The company purchased Helios Nutrition Limited in 2006 and Fresh Made Dairy in 2009, absorbing its top two competitors in the kefir market while also adding organic kefir to its product line-up.
Source: Lifeway Foods
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