Type | Public |
---|---|
Nasdaq: LWAY Russell Microcap Index component | |
Industry | Health food |
Founded | Morton Grove, Illinois (1986 ) |
Founder | Michael Smolyansky |
Headquarters | Morton Grove, Illinois , |
Key people | Julie Smolyansky (CEO) Michael Smolyansky (Founder) |
Products | Kefir |
Revenue | US$137.2 million (2015) [1] |
US$4.4 million (2015) [1] | |
US$1.972 million (2015) [1] | |
Total assets | US$64.9 million (2015) [1] |
Total equity | US$45.3 million (2015) [1] |
Number of employees | 370 (2015) [1] |
Website | www |
Lifeway Foods is an Illinois based health food company founded in 1986. They are a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome. [2]
Lifeway Foods was founded by Michael Smolyansky, a Ukrainian Jewish immigrant who arrived in the United States from Kyiv, Ukraine, USSR, in 1976. [3] During a trip to West Germany, Michael and his wife, Ludmila Smolyansky, realized the kefir sold at a tradeshow was not sold in the United States and decided to start producing it. [4]
The company went public and debuted on the NASDAQ exchange in 1988. They opened their first plant in Skokie, Illinois, a year later. The company began to grow by expanding its product lines and increasing its distribution.
After Michael's death in 2002, his daughter, Julie Smolyansky, took over and became the youngest female CEO of a publicly held firm at the age of 27. [5] [6] Since that time, Julie has grown Lifeway’s annual revenues from $12 million in 2002, to over $119 million in 2021. Now, Lifeway estimates it occupies 95 percent of the U.S. market in kefir, which the company has helped turn from a niche health-food product to a formidable player in the surging global market for yogurt and other cultured-milk products. [7] [8] [9]
Lifeway's flagship product is kefir. Lifeway sells it in several varieties, including low-fat, non-fat, Greek, organic, and low-carb varieties, as well as these in several different flavors. [10] The company also produces farmer cheese resembling Eastern-European style tvorog [11] and Lifeway Oat, a probiotic oat milk designed to support the gut. [12]
Dairy products or milk products, also known as lacticinia, are food products made from milk. The most common dairy animals are cow, water buffalo, nanny goat, and ewe. Dairy products include common grocery store food items in the Western world such as yogurt, cheese, milk and butter. A facility that produces dairy products is known as a dairy. Dairy products are consumed worldwide to varying degrees. Some people avoid some or all dairy products either because of lactose intolerance, veganism, or other health reasons or beliefs.
Yogurt is a food produced by bacterial fermentation of milk. The bacteria used to make yogurt are known as yogurt cultures. Fermentation of sugars in the milk by these bacteria produces lactic acid, which acts on milk protein to give yogurt its texture and characteristic tart flavor. Cow's milk is the milk most commonly used to make yogurt. Milk from water buffalo, goats, ewes, mares, camels, and yaks are also used to produce yogurt. The milk used may be homogenized or not. It may be pasteurized or raw. Each type of milk produces substantially different results.
Cottage cheese is a curdled milk product with a mild flavor and a creamy, heterogenous, soupy texture. It is made from skimmed milk by draining curds but retaining some of the whey and keeping the curds loose. An essential step in the manufacturing process distinguishing cottage cheese from other fresh cheeses is the addition of a "dressing" to the curd grains, usually cream, which is mainly responsible for the taste of the product. Cottage cheese is not aged.
Soy milk, also known as soya milk or soymilk, is a plant-based drink produced by soaking and grinding soybeans, boiling the mixture, and filtering out remaining particulates. It is a stable emulsion of oil, water, and protein. Its original form is an intermediate product of the manufacture of tofu. Originating in China, it became a common beverage in Europe and North America in the latter half of the 20th century, especially as production techniques were developed to give it a taste and consistency more closely resembling that of dairy milk. Soy milk may be used as a substitute for dairy milk by individuals who are vegan or lactose intolerant.
Skyr is a traditional Icelandic cultured dairy product. It has the consistency of strained yogurt, but a milder flavor. Skyr can be classified as a fresh sour milk cheese, similar to curd cheese consumed like a yogurt in the Baltic states, the Low Countries, Germany and Russia. It has been a part of Icelandic cuisine for centuries.
Danimals is an American brand of low-fat drinkable yogurt. Launched by Dannon in 1994, it is decorated with pictures of wild animals and is popular among children and in school lunches.
Plant milk is a plant beverage with a color resembling that of milk. Plant milks are non-dairy beverages made from a water-based plant extract for flavoring and aroma. Plant milks are consumed as alternatives to dairy milk, and may provide a creamy mouthfeel.
Silk is an American brand of dairy-substitute products currently owned by Danone after it purchased WhiteWave Foods in 2016.
Activia is a brand of yogurt owned by Groupe Danone and introduced in France in 1987. As of 2013, Activia is present in more than 70 countries and on 5 continents. Activia is classified as a functional food, designed to improve digestive health.
Tibicos, or water kefir, is a traditional fermented drink made with water and a symbiotic culture of bacteria and yeasts (SCOBY) held in a polysaccharide biofilm matrix created by the bacteria. It is sometimes consumed as an alternative to milk-based probiotic drinks or tea-cultured products such as kombucha. Water kefir is typically made as a probiotic homebrew beverage. The finished product, if bottled, will produce a carbonated beverage.
Oat milk is a plant milk derived from whole oat grains by extracting the plant material with water. Oat milk has a creamy texture and mild oatmeal-like flavor, and is manufactured in various flavors, such as sweetened, unsweetened, vanilla, and chocolate.
Streptococcus thermophilus formerly known as Streptococcus salivarius subsp. thermophilus is a gram-positive bacterium, and a fermentative facultative anaerobe, of the viridans group. It tests negative for cytochrome, oxidase, and catalase, and positive for alpha-hemolytic activity. It is non-motile and does not form endospores. S. thermophilus is fimbriated.
Strained yogurt, Greek yogurt, yogurt cheese, sack yogurt, or kerned yogurt is yogurt that has been strained to remove most of its whey, resulting in a thicker consistency than normal unstrained yogurt, while still preserving the distinctive sour taste of yogurt. Like many types, strained yogurt is often made from milk enriched by boiling off some water content, or by adding extra butterfat and powdered milk. In Europe and North America, it is often made from low-fat or fat-free cow's milk. In Iceland, a similar product named skyr is made.
Kefir is a fermented milk drink similar to a thin yogurt or ayran that is made from kefir grains, a specific type of mesophilic symbiotic culture. It is prepared by inoculating the milk of cows, goats, or sheep with kefir grains.
Michael Smolyansky was an American businessman. He was the chairman, president and CEO of Lifeway Foods, Inc., a dairy company based in Morton Grove, Illinois. He founded the company in 1986.
Chobani is an American food company specializing in strained yogurt. The company was founded in 2005 by Hamdi Ulukaya, a Turkish Kurd businessman. Chobani sells thick, Greek yogurt with a higher protein content than traditional yogurt and is one of the main companies to popularize this style of yogurt in the US. The company has also expanded to non-dairy, plant-based products such as dairy-free vegan yogurt and oat milk. Chobani produces a variety of Greek yogurt products, oat drinks, and snacks. Chobani's yogurt's market share in the U.S. rose from less than 1% in 2007 to more than 20% in 2021, and is the top-selling Greek yogurt brand in the United States and operates the largest yogurt facility in the world. In April 2016, Chobani announced it was giving 10 percent of its ownership stake to its employees.
Julie Smolyansky is a Ukrainian-American businesswoman. She is the CEO of Illinois-based dairy company Lifeway Foods.
Vegan cheese is a category of non-dairy, plant-based cheese analogues. Vegan cheeses range from soft fresh cheeses to aged and cultured hard grateable cheeses like plant-based Parmesan. The defining characteristic of vegan cheese is the exclusion of all animal products.
Quark or quarg is a type of fresh dairy product made from milk. The milk is soured, usually by adding lactic acid bacteria cultures, and strained once the desired curdling is achieved. It can be classified as fresh acid-set cheese. Traditional quark can be made without rennet, but in modern dairies small quantities of rennet are typically added. It is soft, white and unaged, and usually has no salt added.