For Immediate Release
Lifeway Foods Recognized in Kroger Awards Program
For Outstanding Minority- and Women-Owned Businesses
Morton Grove, IL, April 15, 2004 – Lifeway Foods, Inc. (Nasdaq: LWAY),
the country’s leading supplier of a yogurt-like beverage called kefir,
has been honored by The Kroger Co. (NYSE: KR) as one of 80 Outstanding
Minority-Owned and Women-Owned Business Enterprises (M/WBEs) for 2003.
Julie Smolyansky, who holds the dual posts of CEO and president, heads
Lifeway.
Criteria for selection in Kroger’s inaugural awards program included quality of product or service, innovation and presentation of new ideas, performance, and sales volume. Vendors were nominated by corporate and division buyers and merchandisers.
The firms recognized by Kroger provide retail products or services for sale in Kroger's stores, and not-for-resale products and services. Lifeway sells its kefir and related products in Kroger-operated stores throughout the country.
“This recognition from a major retailer is a strong endorsement of our products, our sellthrough, and our ability to forge solid and lasting relationships with our customers,” Smolyansky said. “We are honored to be included in Kroger’s list.”
"Supplier diversity is an important part of Kroger's business strategy, and we're proud to honor the talented partners that have played such an integral role in our success," said Don McGeorge, Kroger president and chief operating officer. "We believe this recognition will help express our appreciation to our outstanding M/WBE business partners and inform other M/WBE companies that Kroger is continually seeking qualified vendors for all areas of our business. Kroger's goal is to be sure that our suppliers reflect the broad diversity of the customers and marketplaces we serve."
Headquartered in Cincinnati, Ohio, Kroger is one of the nation's largest retail grocery chains. At the end of fiscal 2003, the Company operated (either directly or through its subsidiaries) 2,532 supermarkets and multi-department stores in 32 states under two dozen banners including Kroger, Ralphs, Fred Meyer, Food 4 Less, King Soopers, Smith's, Fry's, Fry's Marketplace, Dillons, QFC and City Market. Kroger also operated (either directly, through its subsidiaries or franchise agreements) 802 convenience stores, 440 fine jewelry stores, 466 supermarket fuel centers and 41 food processing plants. For more information, visit www.kroger.com .
Lifeway, named Chicago’s 28th fastest-growing public firm by Crain’s
Chicago Business in 2003, is a manufacturer of cultured, probiotic and
functional food products in the health food industry, and is America's
leading supplier of the cultured dairy product known as kefir. The
Company markets 12 flavors of kefir and does a successful business
exporting its products to Canada. The Company also participates in the
organic and soy markets with Lifeway Organic™, Organic Kefir and Kefir
Cheese, and America’s first soy kefir called SoyTreat™.
For more information, contact Julie Smolyansky, President, Lifeway
Foods, Inc. at (847) 967-1010, e-mail at info@lifeway.net, or visit
www.kefir.com.
This press release contains forward-looking statements. Investors are
cautioned that actual results may differ materially from such
forward-looking statements. Forward-looking statements involve risk and
uncertainties including, but not limited to, competitive pressures and
other important factors detailed in the Company’s annual reports on
Form 10-K filed with the Securities and Exchange Commission.
6431 W. Oakton
Morton Grove, IL 60053
847-967-1010
fax: 847-967-6558
