Smart for Life announces update on prospective acquisitions

Smart for Life announced the potential expansion of the Company’s 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. These acquisitions include the following: Purely Optimal Nutrition – Previously announced acquisition. The Company and the Purely Optimal management are actively collaborating on the restructuring of their sales initiatives to improve Purely Optimal’s profitability prior to closing of 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 revenue of approximately $8 million and profitable in retail channels. Smart for Life is seeking profitable companies in the nutraceutical industry across the United States as well as prospective foreign acquisitions, preliminarily targeting companies with between $5 million and $25 million in annual revenue. We pursue targets that are committed to innovation, high quality standards, organic growth, and that have a keen interest in partnering with a publicly held organization.