Smart for Life announces LOI to acquire manufacturer of vitamins, supplements

Smart for Life announced that it has executed a Letter of Intent, LOI, to acquire a state-of-the-art manufacturer of vitamins and supplements, which is expected to add an estimated $20 million of revenue on a pro forma basis over the next year. “This target acquisition brings significant manufacturing capabilities in the health and wellness sector and should be highly synergistic with our existing channels and brands,” stated Darren Minton, CEO of Smart for Life. “In addition, the company is already audited by a top ten PCAOB accounting firm, which will significantly streamline the due diligence phase, in addition to the overall speed of the transaction. Moreover, we believe Smart for Life can achieve meaningful operating efficiencies by bringing additional capabilities in-house, making this acquisition highly accretive. We look forward to sharing additional information as we complete due diligence and definitive documentation over the coming weeks.”