Smart for Life Appoints Prominent Industry Executive Loren Brown to Company’s Board of Directors
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Brown Also Engaged to Expand Company's Pipeline of Prospective Acquisitions
MIAMI, FL / ACCESSWIRE / March 11, 2024 / Smart for Life, Inc. (Nasdaq:SMFL) ("Smart for Life" or the "Company"), a global leader in the Health & Wellness sector marketing and manufacturing nutritional supplements and foods, announced today that it has appointed Loren Brown to the Company's Board of Directors.
"Loren Brown joins Smart for Life as a distinguished industry executive, boasting extensive experience and a robust network of business relationships," stated Darren Minton, CEO of Smart for Life. "His profound industry knowledge coupled with his expertise in the capital markets positions him ideally to bolster our acquisition pipeline and fortify our team for successful completion of M&A opportunities as part of our expansion strategy."
Currently serving as the Director of Business Development over the past 10 years for Human and Animal Services at SGS / Nutrasource Diagnostics, a leading global contract research organization ("CRO") with a global team of 96,000 employees operate in 2,600 offices and labs worldwide, Mr. Brown specializes 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. His prior experience encompasses similar roles at a global CRO, as well as serving as the Associate Director of Business Development at Burdock Group, a comprehensive Food Safety and Regulatory Compliance Consulting Firm.
"Joining the Smart for Life team presents significant growth opportunities," remarked Loren Brown. "The Health & Wellness market's rapid development over the past years underscores the potential ahead. I am eager to leverage my strategic planning, analytical skills, and my extensive industry network to support Smart for Life's management and board of directors in their future endeavors."
About Smart for Life, Inc.
Smart for Life, Inc. (Nasdaq:SMFL) is engaged in the development, marketing, manufacturing, acquisition, operation and sale of a broad spectrum of nutritional and related products with an emphasis on Health & Wellness. Structured as a publicly held holding company, the Company is executing a Buy-and-Build strategy with serial accretive acquisitions creating a vertically integrated company. To drive growth and earnings, Smart for Life is developing proprietary products as well as acquiring other profitable companies, encompassing brands, manufacturing and distribution channels. The Company has also commenced the execution of a restructuring plan including recapitalization of the Company with equity and debt financings, the sale of certain non-performing assets, the potential sale and leaseback of the Company's 18,000 sq. ft. Doral manufacturing facility and the recent liquidation of the Company's senior debt facility. In addition, the Company is converting certain debt obligations to equity to materially improve the Company's balance sheet. For more information about Smart for Life, please visit: www.smartforlifecorp.com.
Forward-Looking Statements
This press release may contain information about our views of future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on management's beliefs, assumptions and expectations of Smart for Life's future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Although Smart for Life believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Smart for Life does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. No assurances can be made that Smart for Life will successfully acquire 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, that may cause Smart for Life's actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Actual results may differ materially from the expectations discussed in 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 "Risk Factors" included in our filings with the Securities and Exchange Commission.
Disclaimer
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.
Investor Relations Contact
Crescendo Communications, LLC
Tel: (212) 671-1021
SMFL@crescendo-ir.com
SOURCE: Smart For Life Inc.
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