MORTON GROVE, ILL. — Lifeway Foods, Inc., a manufacturer of fermented dairy products, said it expects to realize approximately $5 million in net profit following the recent sale of Simple Mills to Flowers Foods, Inc.

Lifeway, which was an early investor in Simple Mills in 2015, said it previously realized a $1.5 million gain on the investment back in 2019. With the most recent sale Lifeway said it expects total net proceeds from its investment in Simple Mills of approximately $6.5 million.

“We extend our congratulations to Simple Mills and its CEO Katlin Smith for its successful exit based on the impending $795 million acquisition by Flowers Foods,” said Julie Smolyansky, chief executive officer of Lifeway. “When we first invested in Simple Mills we saw the potential growth of the company and we are delighted that Lifeway’s shareholders will benefit from our early investment.”

The acquisition of Simple Mills is subject to regulatory approval and is projected to close during the first quarter of 2025. The transaction was first announced in early January.