Danone ends acquisition pursuit of Lifeway Foods

Danone S.A. disclosed it will no longer pursue an acquisition of Lifeway Foods Inc. (NASDAQ: LWAY), according to an amended Schedule 13D filing.

Danone North America PBC entered into a confidentiality agreement with Lifeway on August 1, 2025, to conduct due diligence for a potential acquisition. The company determined on September 17, 2025, that it could not confirm its previous acquisition proposal and informed Lifeway of its decision to end pursuit on the same date.

The filing states Danone is reviewing alternatives for its investment in Lifeway. As part of this review, Danone is considering whether to vote its shares in favor of Edward Smolyansky's proposals in his pending consent solicitation to replace Lifeway's entire Board of Directors, though no final decision has been made.

Danone indicated it may take various actions regarding its Lifeway investment, including selling all or part of its holdings, continuing to hold the investment, or changing its intentions on matters referenced in the Schedule 13D filing.

The information was disclosed in Danone's amended Schedule 13D filing as a Lifeway shareholder.

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