Wednesday, Smart for Life, Inc (NASDAQ: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 and wellness target companies and is in exploratory discussions with several other potential customers as part of the Company’s post-restructuring initiatives.
The acquisitions include:
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Purely Optimal Nutrition – This was a previously announced acquisition. The Company and management of Purely Optimal are actively working to restructure their sales initiatives to improve Purely Optimal’s profitability prior to the completion of the acquisition.
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Fluid Manufacturer – Contract manufacturer with approximately $12 million in sales and profit in the previous fiscal year.
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Established nutritional supplement brand – Historical sales of approximately $10 million annually and profitable through nutraceuticals.
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Wholesale manufacturer and distributor – Generates approximately $8 million in sales and is profitable in retail channels.
“Smart for Life is committed to achieving revenue and earnings growth through the acquisition of profitable companies focused on nutritional supplements and functional foods,” said AJ Cervantes, Jr., Chairman of Smart for Life.
Smart for Life is searching for profitable nutraceutical companies and potential foreign acquisition candidates throughout the United States. The company is initially targeting companies with annual revenues between $5 million and $25 million.
Darren Minton, CEO of Smart for Life: “We look forward to keeping everyone updated on our developments as we continue to execute our strategy and work toward our publicly stated goal of $100 million in revenue through organic growth and M&A initiatives.”
Price promotion: SMFL shares closed 1.56% higher at $0.9700 on Tuesday.
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This article EXCLUSIVE: Smart For Life targets $100 million in revenue through strategic acquisitions in health and wellness originally appeared on Benzinga.com
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