MIAMI, April 08, 2024 (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 foods and supplements worldwide, today released a corporate video regarding the definitive agreement to acquire Purely Optimal Nutrition, a premier eCommerce nutraceuticals company with operations in North America.
The corporate video featuring Smart for Life's CEO, Darren Minton, can be found at: https://smartforlifecorp.com/2024/04/08/video-ceo-of-smart-for-life-darren-minton-announces-purely-optimal-acquisition/.
"We are excited to announce another milestone as part of our M&A strategy, designed to establish Smart for Life as a major international force in the Health & Wellness sector," stated Darren Minton, CEO of Smart for Life. "This acquisition is not only expected to extend our offering to include Purely Optimal's product line, which includes dozens of high-quality supplements, but will enable us to achieve additional economies of scale through our existing operations. Purely Optimal is currently generating estimated revenue in excess of $8 million and over $1 million of Adjusted EBITDA for the trailing twelve months. We look forward to making further announcements regarding our M&A initiatives in 2024 and beyond."
The acquisition is expected to close within the next eight weeks and is subject to financing ...