Lifeway Foods Inc (Nasdaq: LWAY), a supplier of cultured dairy products, has expanded distribution of its flagship line, Kefir, into 125 Galaxy stores, 111 Lowes supermarkets, 85 IGA supermarkets, and 81 Sam’s Club retail locations.
Lifeway’s Kefir will officially be available to consumers in the four major retailers as of December 1, 2011 and the company expects to expand marketing and advertising to support sales at the retail chains.
The company also announced that based on its cash position and cashflow from operating activities, that it paid down $1.8 million of long-term notes payable including $1.5 million associated with its credit facility and $0.3 million related to its long-term mortgage. Reduction of the notes payable reflects debt associated with the company’s Fresh Made acquisition in February 2009.
Kefir is a dairy beverage that contains 10 live and active probiotic cultures plus ProBoost. Besides its line of Kefir products, Lifeway produces various probiotic cheese products.The company also sells frozen kefir, kefir smoothies, and kefir parfaits through its Starfruit retail stores.
For more information, visit www.lifewaykefir.com.
