MIAMI, Dec. 18, 2023 (GLOBE NEWSWIRE) -- Smart for Life, Inc. (NASDAQ:SMFL) ("Smart for Life" or the "Company"), a global leader in the Health & Wellness sector marketing and manufacturing nutritional supplements and foods worldwide, announced today that it has expanded its management team in anticipation of increased capital markets and M&A activity. The announcement was made by A.J. Cervantes, Jr., Executive Chairman of Smart for Life.
The additions include Mark Beychok, who joins the team as Executive Vice President, and Jessica Walters, Senior Vice President of Marketing.
"The success of any company is driven by the effectiveness of its management team," noted Mr. Cervantes. "Both of these executives have long standing relationships with members of the Smart for Life management and have proven capabilities in their respective fields. Mark Beychok was formerly Vice Chairman of Trilogy Capital, a Smart for Life affiliate, from 2003 to 2007 and drove much of the company's success at that time. In addition, Jessica Walters is a highly seasoned digital marketing executive who has provided comprehensive consulting services for a broad range of companies in various industries prior to coming aboard as Senior Vice President of Marketing. Her mandate includes the execution of high level 506(c) debt financing programs."
"The Company's objective in Q1 is to complete two materials acquisitions currently in negotiation representing approximately $25 million in revenue, as well as execute a material restructuring program," stated Darren Minton, the Company's Chief Executive Officer. "We expect these initiatives to include capital markets strategies, the disposition of certain non-performing assets, as well improvements to our stockholder's equity for Nasdaq as part of an overall Plan of Restructure."
Mr. Cervantes concluded, "With these highly seasoned additions to our management team, we look forward to making further announcements regarding our strategic M&A and financing initiatives in the coming weeks and months."