Lifeway Foods agrees to purchase assets of GlenOaks Farms

US kefir company Lifeway Foods has announced intentions to acquire certain assets of California-based drinkable yogurt brand, GlenOaks Farms, for $5.8 million.

The proposed deal will see Lifeway Foods expand its position in the better-for-you drinkable dairy space, as it looks to introduce consumers to the ‘next wave of wellness nutrition’.

Founded in 1984, GlenOaks manufactures drinkable yogurts that contain 3.5 billion probiotics cultures per serving. The brand’s product portfolio consists of six different flavours made with fruit puree.

Upon completion of the transaction, Lifeway Foods plans to expand the distribution of GlenOaks products nationwide with new retail opportunities.

Lifeway’s kefir products are currently sold across the US, Mexico, Ireland, France and the UK.

“We are very excited to welcome GlenOaks Farms into the Lifeway family, as it will further solidify our strong position in California and the western US,” said Julie Smolyansky, Lifeway Foods president and CEO.

She continued: “Their drinkable yogurt is an incredible strategic complement to our kefir and will help expand our presence in key retail partners in the west, which is a crucial area of growth. This acquisition unlocks an adjacent health-oriented consumer and stays true to our core mission of supporting the gut health, immunity and mental wellbeing of our customers.”

The transaction is expected to be completed in August 2021, subject to customary closing conditions and regulatory approvals.