EXCLUSIVE: Smart For Life Targets $100M Revenue Goal Through Strategic Health & Wellness Acquisitions

Wednesday, Smart for Life, Inc SMFL announced the potential expansion of its acquisition pipeline and provided an update on its M&A activities.

The Company is currently negotiating the acquisition of four profitable Health & Wellness targets with several additional prospects in exploratory discussions as part of the Company's post-restructuring initiatives. 

The acquisitions include the following:

• Purely Optimal Nutrition—This was a previously announced acquisition. The Company and Purely Optimal management are actively collaborating on restructuring their sales initiatives to improve Purely Optimal's profitability prior to closing the acquisition.
• Liquid Manufacturer – Contract manufacturer with sales of approximately $12 million and profitable in the prior fiscal year.
• Established Supplement Brand – Historical sales of approximately $10 million annually and profitable through nutraceutical products.
• Wholesale Manufacturer and Distributor – Generating approximately $8 million in revenue and profitable in retail channels.

"Smart for Life is committed to pursuing revenue and earnings growth through the acquisition of profitable companies focused on nutritional supplements and functional foods," stated A.J. Cervantes, Jr., Chairman of Smart for Life.

Smart for Life is seeking profitable companies in the nutraceutical industry across the United States and prospective foreign acquisitions. It is preliminarily targeting companies with annual revenue between $5 million and $25 million. 

Darren Minton, Smart for Life's Chief Executive Officer: "We look forward to keeping everyone apprised of our developments as we continue to implement our strategy and drive toward our publicly stated goal of $100 million in revenue through both organic growth and M&A initiatives."

Price Action: SMFL stock closed higher by 1.56% at $0.9700 on Tuesday.