Smart for Life to acquire Purely Optimal Nutrition, terms not disclosed

Smart for Life has executed a definitive agreement to acquire Purely Optimal Nutrition, a premier eCommerce nutraceuticals company with operations in North America. “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 be overstated. The Purely Optimal management team has created a world class brand with a deep and loyal customer base. We believe that Smart for Life can help further support and monetize that customer base with some substantial brand extensions, particularly in the area of the creation of Purely Optimal nutritional food products, formulated and manufactured at our FDA certified facility.” The acquisition is expected to close within the next eight weeks and is subject to financing and customary closing conditions.