Lifeway Takes First
September 27/News Bites U.S. Markets -- Lifeway Foods is acquiring the assets of First Juice, Organic Children's Juice Company. First Juice offers four juice flavors that are made from organic produce, lower in sugar than comparable products, and sold through more than 300 Babies R Us and Toys R Us stores as well as outlets including Whole Foods Market, Ralphs, Amazon.com and Diapers.com.
First Juice recorded over $1.7 million in sales in 2009 after just two years in business.
"The market for healthy children's beverages and other foods that promote healthy children's eating habits is clearly growing. We've seen it with our ProBugs Kefir products, as well as in the calls to improve children's nutrition everywhere from the media to the White House"; said Julie Smolyansky, CEO of Lifeway Foods. "Adding First Juice to our product portfolio strengthens our offerings in this increasingly important market space, provides cross-marketing and channel expansion opportunities, and gives us a strong new platform for building revenues."
Lifeway's acquisition of First Juice assets is expected to close October 4, 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 lineup.
From the October 4, 2010, Prepared Foods E-dition