Smart for Life Names Two Executives to Senior Management Team

Rhea-AI Summary

Smart for Life, Inc. (Nasdaq: SMFL) has expanded its management team to enhance its capabilities for increased capital markets and M&A activity. The Company aims to complete two material acquisitions representing approximately $25 million in revenue and execute a material restructuring program in Q1. The additions to the management team include Mark Beychok, Executive Vice President, and Jessica Walters, Senior Vice President of Marketing.

Additions Expected to Fortify Management Capabilities as Smart for Life Expands M&A and Financing Initiatives

MIAMI, Dec. 18, 2023 (GLOBE NEWSWIRE) -- 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 worldwide, announced today that it has expanded its management team in anticipation of increased capital markets and M&A activity. The announcement was made by A.J. Cervantes, Jr., Executive Chairman of Smart for Life.

The additions include Mark Beychok, who joins the team as Executive Vice President, and Jessica Walters, Senior Vice President of Marketing.

“The success of any company is driven by the effectiveness of its management team,” noted Mr. Cervantes. “Both of these executives have long standing relationships with members of the Smart for Life management and have proven capabilities in their respective fields. Mark Beychok was formerly Vice Chairman of Trilogy Capital, a Smart for Life affiliate, from 2003 to 2007 and drove much of the company’s success at that time. In addition, Jessica Walters is a highly seasoned digital marketing executive who has provided comprehensive consulting services for a broad range of companies in various industries prior to coming aboard as Senior Vice President of Marketing. Her mandate includes the execution of high level 506(c) debt financing programs.”

“The Company’s objective in Q1 is to complete two materials acquisitions currently in negotiation representing approximately $25 million in revenue, as well as execute a material restructuring program,” stated Darren Minton, the Company’s Chief Executive Officer. “We expect these initiatives to include capital markets strategies, the disposition of certain non-performing assets, as well improvements to our stockholder’s equity for Nasdaq as part of an overall Plan of Restructure.”

Mr. Cervantes concluded, “With these highly seasoned additions to our management team, we look forward to making further announcements regarding our strategic M&A and financing initiatives in the coming weeks and months.”

About Mark Beychok, Executive Vice President

Mark Beychok is Executive Vice President of Smart for Life. Mr. Beychok is a highly successful capital markets executive serving as a merchant banker, M&A architect and corporate advisor for over 20 years. He has deep experience with both private and public companies in management, operations, M&A finance and strategic litigation with proven expertise and decision-making capabilities. Mr. Beychok’s primary responsibilities will be organizing the attendant financings for the Company’s current and future prospective acquisitions. Mr. Beychok is a graduate of the Haas School of Business at the University of California, Berkeley.

About Jessica Walters, Senior Vice President – Marketing

Jessica Walters is Senior Vice President of Marketing for Smart for Life. Ms. Walters brings to Smart for Life proven expertise in lead generation, conversion, database management and capital formation with a current emphasis on financial products including 506(c) offerings. Prior to Smart for Life she was the Founder and CEO of Tropic Like its Hot, LLC, establishing herself at the forefront of driving innovation in multiple industries, blending her experience in traditional sales with cutting-edge applications of A.I. in branding, marketing and sales strategies.

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 and wellness. Structured as a publicly held global holding company, the Company is executing a Buy-and-Build strategy with serial accretive acquisitions creating a vertically integrated company with an objective of aggregating companies generating a minimum of $300 million in revenues by the fourth quarter of 2026. 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 currently operates five subsidiaries including Doctors Scientific Organica, Nexus Offers, Bonne Santé Natural Manufacturing, GSP Nutrition/Sports Illustrated Nutrition and Ceautamed Worldwide/Greens First. For more information about Smart for Life, please visit: www.smartforlifecorp.com.

Investor material and a Fact Sheet with additional information about Smart for Life is available at: www.smartforlifecorp.com/investor-center.

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.

Contact

Crescendo Communications, LLC
Tel: (212) 671-1021
SMFL@crescendo-ir.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1b9e1d03-e435-45cf-8a18-b075a191e22f

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/073a77c6-15b4-45a4-a0f1-70a7497ad4bb

FAQ

What is the ticker symbol for Smart for Life, Inc.?

The ticker symbol for Smart for Life, Inc. is SMFL.

What are the recent expansions announced by Smart for Life, Inc.?

Smart for Life, Inc. has expanded its management team in anticipation of increased capital markets and M&A activity.

Who are the new additions to the management team of Smart for Life, Inc.?

Mark Beychok has joined as Executive Vice President, and Jessica Walters has joined as Senior Vice President of Marketing.

What are the objectives of Smart for Life, Inc. in Q1?

The Company's objectives in Q1 include completing two material acquisitions representing approximately $25 million in revenue and executing a material restructuring program.

What is the role of Jessica Walters in Smart for Life, Inc.?

Jessica Walters is the Senior Vice President of Marketing and is responsible for executing high level 506(c) debt financing programs.