MIAMI, March 15, 2022 (GLOBE NEWSWIRE) — Smart for Life, Inc. (Nasdaq: SMFL) (“Smart for Life” or the “Company”), a leading developer, marketer and manufacturer of nutritional and related products , today announced that it has signed a definitive agreement to acquire Ceautamed Worldwide, LLC and its subsidiaries, Wellness Watchers Global, LLC and Greens First Female, LLC (collectively “Ceautamed”), a primarily engaged in the development and distribution of a wide variety of nutritional products, including antioxidant rich supplements, plant proteins, alkalizing nutrients and products designed for weight management. AJ Cervantes, Jr., president of Smart for Life, and Stuart Benson, president of Ceeautamed, made the announcement.
Ceautamed, based in Boca Raton, Florida, was established in 2009 and owns the Greens First line of branded products, which have been marketed specifically for the healthcare provider industry. These vitamins and supplements were sold on a business-to-business, direct-to-consumer basis, as well as sold through an international medical distribution company under a long-term contract. The Greens First brand from Ceautamed is also present online at: www.greensfirst.com.
“We are delighted to make this announcement with Ceautamed and believe this potential very successful acquisition adds another major element to Smart for Life’s consolidation model,” said Mr. Cervantes. “This further validates the concept of supporting shared management and intelligence across different entities post-acquisition.”
Ceautamed has historically used third-party contract manufacturing which, post-closing, will migrate to Bonne Santé Natural Manufacturing, which is Smart for Life’s 100% owned FDA-certified state-of-the-art manufacturing facility based in Miami, Florida. This manufacturing activity should result in a significant incremental acquisition benefit supporting the company’s growth strategy.
“We have been involved in many leadership teams over our careers and the Smart for Life team is at the top,” said Stuart Benson, Chairman of Ceautamed.
Additionally, Dr. Donald Hayes, DC, President of Ceautamed, said, “We have worked hard over the years to build a highly regarded nutraceutical brand and partnering with the management team at Smart for Life gives me great trust.
Ryan Benson, who will remain on board as President and CEO of the Ceautamed subsidiary following the acquisition, said: “Over the past decade building our business, our entire team has spent countless hours and is entirely devoted to the success of Ceeautamed brands such as Les Verts d’abord. We are delighted with our agreement with Smart for Life and look forward to the long term future of our business with their support.
Another key benefit of acquiring Ceeautamed is to leverage Smart for Life’s considerable expertise in direct-to-consumer sales and cross-marketing of Greens First products through its existing marketing initiatives on Amazon and other platforms.
“This acquisition demonstrates Smart for Life’s goal of creating a highly diversified, vertically integrated, global nutraceutical company. The Greens First brand is widely recognized as one of the best true green powders on the market and fits perfectly into our growing portfolio of brands,” said Ryan Zackon, Managing Director of Smart for Life. “The transaction further supports Smart for Life’s goal of developing and acquiring multiple brands and sales channels for cross-marketing of goods and services.”
Completion of the acquisition is subject to a number of conditions, including completion of due diligence and financing.
About Smart for Life, Inc.
Smart for Life, Inc. (Nasdaq: SMFL) is engaged in the development, marketing, manufacturing, acquisition, operation and sale of a wide range of nutritional and related products with an emphasis on health and well-being. Structured as a global holding company, the company executes a buy-and-build strategy with serial accretive acquisitions creating a vertically integrated company with the goal of bringing together companies generating a minimum of $300 million in revenue over the next thirty-six months. To drive growth and profits, Smart for Life develops proprietary products and acquires other profitable companies, encompassing brands, manufacturing and distribution channels. The Company currently operates four subsidiaries, including Doctors Scientific Organica, Nexus Offers, Bonne Santé Natural Manufacturing and GSP Nutrition. For more information about Smart for Life, please visit: www.smartforlifecorp.com.
A video regarding the company’s manufacturing facility at Bonne Santé Natural Manufacturing is available at: www.bonnesantemanufacturing.com/video.
Investor materials and a fact sheet with additional information about Smart for Life are available at: www.smartforlifecorp.com/investor-center.
This press release may contain information about our views on future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on management’s beliefs, assumptions and expectations regarding the future economic performance of Smart for Life, taking into account information currently available to it. These statements are not statements of historical fact. Although Smart for Life believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, it cannot guarantee that its expectations will be achieved. Smart for Life assumes no obligation to update any statements contained herein (including forward-looking statements), except as required by law. There can be no assurance that Smart for Life will be successful in acquiring its acquisition targets. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, which could cause the actual results, performance or financial condition of Smart for Life to be materially different from expectations of future results, performance or financial condition. Actual results may differ materially from the expectations discussed in the forward-looking statements. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in local or national economic conditions and other risks set forth in the “Risk Factors” included in our documents. filed with the Securities and Exchange Commission.
The information provided in this press release is intended for general knowledge only and is not a substitute for professional medical advice or treatment for specific medical conditions. Always seek the advice of your physician or other qualified health care provider with any questions you may have regarding a medical condition. This information is not intended to diagnose, treat, cure or prevent any disease.
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