miami, April 8, 2024 (Globe Newswire) — Smart for Life Co., Ltd. (Nasdaq: SMFL) (“Smart for Life” or the “Company”), a global leader in health and wellness, marketing and manufacturing of nutritional foods and supplements worldwide, today announced the launch of Purely Optimal Nutrition. announced that it has entered into a definitive agreement to acquire the company. , is a leading e-commerce nutritional supplement company operating in . North America.
AJ CervantesJunior, founder and chairman of Smart for Life, said: smart for life umbrella. Purely Optimal’s product line is designed for optimal results using carefully sourced, nourishing ingredients from around the world. We believe these formulations are tested and intended to enhance specific health and wellness needs. As part of our synergistic M&A approach, smart for life This will enable Purely Optimal to accelerate revenue growth and further significantly expand profits. ”
“This acquisition smart for life As a leading international force in the health and wellness field.” Darren MintonCEO of smart for life. “We couldn’t be more excited to expand our offering to include Purely Optimal’s broad product line, which includes dozens of high-quality supplements. Purely Optimal is currently exceeding estimated revenue. 8 million dollars over- $ 1,000,000 Total adjusted EBITDA for the past 12 months. Additionally, the positive impact and synergies on our manufacturing operations cannot be overstated. ”
Mr. Minton Additionally, “Purely Optimal’s management team has built a world-class brand with a deep and loyal customer base. We believe smart for life The Company will be able to further support and monetize its customer base with significant brand extensions, particularly in the area of creating purely optimal nutritional products formulated and manufactured in FDA-certified facilities. ”
The acquisition is expected to close within the next eight weeks and is subject to financing and customary closing conditions.
about Smart for Life Co., Ltd.
Smart for Life Co., Ltd. (Nasdaq: SMFL) is engaged in the development, marketing, manufacturing, acquisition, operation and sale of a wide range of nutritional and related products with a focus on health and wellness. The Company is organized as a publicly traded holding company and pursues a buy-and-build strategy through serial acquisitions to create a vertically integrated company. To drive growth and profitability, smart for life develops its own products and acquires other profitable companies covering brands, manufacturing, and distribution channels. The Company has also begun implementing a restructuring plan that includes recapitalizing the Company through equity and debt financing, selling certain distressed assets, and potentially selling and leasing back the Company’s 18,000 square foot premises. Doral the recent liquidation of our manufacturing facilities and our senior debt facilities; Additionally, we are converting certain debt into equity to significantly improve our balance sheet. The Company has entered into a definitive agreement to acquire his Purely Optimal Nutrition company, which is expected to generate additional revenue and accrete his EBITDA. For more information, smart for lifevisit www.smartforlifecorp.com.
Forward-looking statements
This press release may contain information regarding our beliefs regarding future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on management’s beliefs, assumptions and expectations regarding Smart for Life’s future economic performance in light of currently available information. These statements are not statements of historical fact.nevertheless smart for life Although the Company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, there can be no assurance that such expectations will be achieved. smart for life does not undertake any obligation to update any statements contained herein, including any forward-looking statements, except as required by law.We cannot guarantee that smart for life Successfully achieve acquisition targets. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, and which may affect the actual results, performance and performance of Smart for Life. or our financial condition may cause future results to differ materially from expectations. business performance and financial status. Actual results may differ materially from the expectations set forth in the forward-looking statements. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in local or national economic conditions and the risks contained in our filings. and other risks described under “Factors”. securities and exchange commission.
Disclaimer
The information provided in this press release is for general knowledge purposes only and is not intended to be a substitute for professional medical advice or treatment for specific medical conditions. Always seek the advice of your physician or other qualified health provider with any questions you may have regarding a medical condition. This information is not intended to diagnose, treat, cure, or prevent any disease.
Investor information contact information
Crescendo Communications, LLC
Phone number: (212) 671-1021
SMFL@crescendo-ir.com
sauce: Smart for Life Co., Ltd.
2024 GlobeNewswire, Inc., Source press release
