Smart for Life Announces the Successful Completion of Restructuring Program - Seite 2

Purely Optimal Acquisition

On April 8, the Company announced the execution of the definitive agreement for the acquisition of Purely Optimal, a premier eCommerce nutraceuticals company with operations in North America. The acquisition is not only expected to extend the Company’s offerings to include Purely Optimal’s product line, which includes dozens of high-quality supplements, but will enable it to achieve additional economies of scale through existing operations. Purely Optimal is currently generating estimated revenue in excess of $8 million and over $1 million of Adjusted EBITDA for the trailing twelve months.

The corporate video featuring Smart for Life’s CEO, Darren Minton, can be found at: https://smartforlifecorp.com/2024/04/08/video-ceo-of-smart-for-life-da ....

Accelerated Acquisition Pipeline Development

As part of the Company’s restructuring and business development initiatives, the Company added two prominent nutraceutical executives to the Company’s Board of Directors and as advisors. As part of their prospective activities, they will communicate to the industry at large the Company’s increased business development and buy-side initiatives.

On April 18, the Company announced the election of Heather Granato to the Company’s Board of Directors. Ms. Granato, a prominent industry executive, brings decades of nutraceutical industry experience, a career in journalistic outreach, content creation and marketing initiatives to Smart for Life and the Board.

On March 11, the Company announced the election of Loren Brown to the Company’s Board of Directors as well as an advisor to the Company. Mr. Brown is a prominent 20-year industry veteran specializing in regulatory compliance, product development, and testing solutions for dietary supplements, supporting clients in commercializing health and wellness products in the human and animal markets.

“The enormous value of the addition of both Heather and Loren to the Smart for Life team cannot be overstated,” commented Mr. Minton. “Their impressive credentials impart enormous credibility and the significant depth and reach of their contacts and relationships in the industry has already started to play a major role in business development as well as future acquisition opportunities. I have no doubt they will be tremendous assets to Smart for Life.”