Smart for Life, Inc. (NASDAQ:SMFL) shares are trading higher Monday after the company announced it would acquire Purely Optimal Nutrition.
The Details:
Smart for Life will acquire Purely Optimal Nutrition, an eCommerce nutraceuticals company with operations in North America. The company expects the acquisition deal to close within the next eight weeks.
“This acquisition is another validation of our ‘Buy-and-Build’ 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.
“We could not be more excited to extend our offering to include Purely Optimal’s broad product line, which includes dozens of high-quality supplements. Purely Optimal is currently generating estimated revenue in excess of $8 million and over $1 million of Adjusted EBITDA for the trailing twelve months. In addition, the favorable impact and synergies with our manufacturing operations cannot ...