Lifeway Foods Acquires Golden Guernsey Dairy Plant For $7.4 Million
Lifeway Foods, Inc., a leading supplier of kefir cultured dairy products, has announced the $7.4 million acquisition of the Golden Guernsey dairy plant in Waukesha, WI, to provide additional manufacturing capacity for its growing kefir-based business. Adding the 170,000-square-foot plant to Lifeway’s existing 50,000-square-foot facility in Morton Grove, IL, will more than quadruple the company’s production capacity and provide much-needed expansion abilities.
The Golden Guernsey plant was shuttered this past January following a bankruptcy filing, leaving 112 employees without jobs. Lifeway plans to reopen the plant this summer and rehire a portion of the workforce to staff the facility. The transaction is expected to close on June 10.
Lifeway’s growth has been fueled in part by the burgeoning natural foods movement as well as mounting awareness of the health benefits of probiotic products like kefir. Sales of probiotic foods and supplements jumped 79 percent over the past two years, settling at US$2.25 billion in July 2012, according to data from natural foods market research company SPINS. Organic food sales in the U.S. alone jumped from$11 billion in 2004 to $27 billion in 2012, according to the Nutrition Business Journal, with growth in conventional grocery stores as well as natural foods markets.
Diversification of Lifeway’s product portfolio has also contributed, with innovations ranging from ProBugs™ organic kefir drinks for children to the market’s first packaged frozen kefir. The company’s newest products include freeze-dried Lifeway ProBugs™ Bites for infants, other new ProBugs varieties for older children, frozen kefir bars, and a Greek kefir line featuring extra protein.
You might like:
- Business Facilities’ 11th Annual Rankings Report: Metro and Global Rankings
- Business Facilities’ 2015 Metro Rankings Report: Austin, Nashville, Raleigh Are Metro Frontrunners
- Business Facilities’ 2015 Metro Rankings Report: Indiana Metros Are Exports Leaders
- Business Facilities’ 2015 Global Rankings Report: China Leads In Renewable Energy Investment
- Eli Lilly and Company To Expand Indianapolis R&D Headquarters
- Business Report: Tennessee – DENSO Manufacturing Expanding in Maryville, TN
- Business Report – North Carolina: Growing Innovation Throughout The Tarheel State
- Business Report – California: Largest Solar Facility On Earth Goes Operational
- Alcoa Expands R&D Center Near Pittsburgh
- U.S. Innovation Hubs: Inventing the Future
- Logistics Networks Are Getting Back On Track
- Panama Canal: Bigger, Better and Ready to Rumble
- Bell Inc. To Invest $30M In Ohio Carton Manufacturing Facility
- Business Facilities LiveXchange 2016 Registration Now Open
- The Tree Pods are Coming