Smart for Life Provides Update on Prospective Acquisitions
Smart for Life (Nasdaq: SMFL), a leader in Health & Wellness, has provided an update on its acquisition pipeline and M&A activities. The company is currently negotiating four profitable Health & Wellness acquisitions and exploring additional prospects as part of its post-restructuring strategy. These targets include Purely Optimal Nutrition, a liquid manufacturer, an established supplement brand, and a wholesale manufacturer and distributor.
The company aims to acquire profitable companies in the nutritional supplements and functional foods sectors, targeting U.S. and foreign nutraceutical companies with $5 million to $25 million in annual revenue. Smart for Life remains committed to reaching its $100 million revenue goal through organic growth and strategic acquisitions.
However, the company is currently delinquent in filing its Form 10-Q reports for the periods ended March 31, 2024, and June 30, 2024, which serves as an additional basis for the potential delisting of its securities from The Nasdaq Capital Market.
Smart for Life (Nasdaq: SMFL), leader nel settore della Salute e Benessere, ha fornito un aggiornamento sul suo pipeline di acquisizioni e sulle attività di M&A. Attualmente l'azienda sta negoziando quattro acquisizioni profittevoli nel settore della Salute e Benessere ed esplorando ulteriori opportunità come parte della sua strategia post-ristutturazione. Questi obiettivi includono Purely Optimal Nutrition, un produttore di liquidi, un marchio di integratori affermato, e un produttore e distributore all'ingrosso.
L'azienda punta ad acquisire aziende redditizie nei settori degli integratori nutrizionali e dei cibi funzionali, mirando a società nutraceutiche statunitensi e straniere con 5 milioni a 25 milioni di dollari di fatturato annuo. Smart for Life rimane impegnata a raggiungere il suo obiettivo di fatturato di 100 milioni di dollari attraverso una crescita organica e acquisizioni strategiche.
Tuttavia, l'azienda è attualmente inadempiente nella presentazione dei suoi report Form 10-Q per i periodi conclusisi il 31 marzo 2024 e il 30 giugno 2024, il che rappresenta una base aggiuntiva per la potenziale delisting delle sue securities dal Nasdaq Capital Market.
Smart for Life (Nasdaq: SMFL), líder en Salud y Bienestar, ha proporcionado una actualización sobre su pipeline de adquisiciones y actividades de M&A. La compañía actualmente está negociando cuatro adquisiciones rentables en Salud y Bienestar y explorando perspectivas adicionales como parte de su estrategia post-reestructuración. Estos objetivos incluyen Purely Optimal Nutrition, un fabricante de líquidos, una marca de suplementos establecida, y un fabricante y distribuidor al por mayor.
La compañía pretende adquirir empresas rentables en los sectores de suplementos nutricionales y alimentos funcionales, dirigiéndose a empresas nutracéuticas estadounidenses y extranjeras con 5 millones a 25 millones de dólares en ingresos anuales. Smart for Life se mantiene comprometida a alcanzar su meta de ingresos de 100 millones de dólares a través de crecimiento orgánico y adquisiciones estratégicas.
No obstante, la compañía está actualmente en mora en la presentación de sus informes Form 10-Q para los períodos que terminaron el 31 de marzo de 2024 y el 30 de junio de 2024, lo que representa una base adicional para la posible deslistación de sus valores del Nasdaq Capital Market.
Smart for Life (Nasdaq: SMFL)는 건강 및 웰빙 분야의 선두주자로서 인수 파이프라인 및 M&A 활동에 대한 업데이트를 제공했습니다. 회사는 현재 건강 및 웰빙 분야의 수익성 있는 네 가지 인수를 협상 중이며, 구조조정 이후 전략의 일환으로 추가적인 기회를 모색하고 있습니다. 이러한 목표에는 순수 최적 영양(Purely Optimal Nutrition), 액체 제조업체, 확립된 보충제 브랜드 및 도매 제조업체와 유통업체가 포함됩니다.
회사는 수익성 있는 회사를 인수하는 것을 목표로 하며, 영업 이익이 500만에서 2500만 달러인 미국 및 외국의 영양 보조식품 회사들을 염두에 두고 있습니다. Smart for Life는 유기적 성장과 전략적 인수를 통해 1억 달러 수익 목표를 달성하기 위해 최선을 다하고 있습니다.
하지만 현재 회사는 2024년 3월 31일과 2024년 6월 30일 마감된 기간에 대한 Form 10-Q 보고서를 제출하지 않아, 이는 Nasdaq Capital Market에서 증권이 잠재적으로 상장 폐지될 수 있는 추가적인 근거가 됩니다.
Smart for Life (Nasdaq: SMFL), leader dans le domaine de la Santé et du Bien-être, a fourni une mise à jour sur son pipeline d'acquisition et ses activités de M&A. L'entreprise est actuellement en train de négocier quatre acquisitions rentables dans le secteur de la Santé et du Bien-être et d'explorer d'autres perspectives dans le cadre de sa stratégie post-restructuration. Parmi ces cibles, on trouve Purely Optimal Nutrition, un fabricant de liquides, une marque de compléments établie, ainsi qu'un fabricant et distributeur en gros.
L'entreprise vise à acquérir des entreprises rentables dans les secteurs des compléments nutritionnels et des aliments fonctionnels, en se dirigeant vers des entreprises nutraceutiques américaines et étrangères ayant un chiffre d'affaires annuel de 5 millions à 25 millions de dollars. Smart for Life reste engagé à atteindre son objectif de chiffre d'affaires de 100 millions de dollars grâce à une croissance organique et à des acquisitions stratégiques.
Cependant, l'entreprise est actuellement en retard dans le dépôt de ses rapports Form 10-Q pour les périodes se terminant le 31 mars 2024 et le 30 juin 2024, ce qui constitue un motif supplémentaire pour la potentielle radiation de ses valeurs du Nasdaq Capital Market.
Smart for Life (Nasdaq: SMFL), führend im Bereich Gesundheit und Wellness, hat ein Update zu seiner Akquisepipeline und den M&A-Aktivitäten bereitgestellt. Das Unternehmen verhandelt derzeit über vier rentable Akquisitionen im Bereich Gesundheit und Wellness und untersucht weitere Perspektiven als Teil seiner Nachrestrukturierungsstrategie. Zu diesen Zielen gehören Purely Optimal Nutrition, ein Flüssigkeitshersteller, eine etablierte Supplementmarke und ein Großhersteller sowie -verteiler.
Das Unternehmen strebt an, rentable Unternehmen in den Bereichen Nahrungsergänzungsmittel und funktionelle Lebensmittel zu akquirieren, mit dem Ziel, US-amerikanische und ausländische nutraceutical Unternehmen mit 5 Millionen bis 25 Millionen Dollar jährlichem Umsatz anzusprechen. Smart for Life bleibt verpflichtet, sein Umsatz-Ziel von 100 Millionen Dollar durch organisches Wachstum und strategische Akquisitionen zu erreichen.
Das Unternehmen ist jedoch derzeit in Verzug mit der Einreichung seiner Form 10-Q Berichte für die zum 31. März 2024 und 30. Juni 2024 endenden Zeiträume, was eine zusätzliche Grundlage für die mögliche Delistung seiner Wertpapiere von der Nasdaq Capital Market darstellt.
- Negotiating four profitable Health & Wellness acquisitions
- Targeting companies with $5 million to $25 million in annual revenue
- Aiming for $100 million revenue goal through organic growth and acquisitions
- Delinquent in filing Form 10-Q reports for Q1 and Q2 2024
- Potential delisting from Nasdaq Capital Market due to filing delays
- Completion of acquisitions subject to due diligence and financing
Insights
Smart for Life's update on potential acquisitions signals a strategic shift post-restructuring, but investors should approach with caution. The company's ambitious
The Health & Wellness sector that Smart for Life operates in shows promising growth potential. However, the company's aggressive acquisition strategy in a competitive market carries risks. The focus on profitable targets is prudent, but integration challenges could arise. The mention of both U.S. and foreign targets suggests a broad approach, which could diversify revenue streams but also increase operational complexity. The emphasis on innovation and organic growth aligns with industry trends, potentially enhancing long-term value. Yet, the company's current Nasdaq compliance issues may impact its ability to attract quality acquisition targets or negotiate favorable terms. Investors should weigh the potential upside of successful acquisitions against the current operational and financial uncertainties.
Smart for Life's Nasdaq compliance issues are a significant concern. The company is now delinquent in filing two consecutive quarterly reports (Q1 and Q2 2024), which severely jeopardizes its Nasdaq listing status. The hearings panel's upcoming determination is important for the company's future. Delisting could dramatically impact Smart for Life's ability to raise capital and execute its acquisition strategy. The company's disclosure about conditions for completing acquisitions, including due diligence and financing, is prudent but underscores the uncertainty of these deals. Investors should be aware that the lack of timely financial reporting not only affects regulatory compliance but also raises questions about internal controls and governance practices. Resolution of these issues is critical for the company's credibility and ability to move forward with its growth plans.
Multiple Acquisitions in Pipeline; Ranging from Definitive Agreement to Exploratory Discussions as Phase 2 of the Company’s Post-Restructuring Initiatives; Company Provides Update on Timing for Form 10-Q
MIAMI, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Smart for Life, Inc. (Nasdaq: SMFL) (“Smart for Life” or the “Company”), a distinguished leader in the Health & Wellness sector specializing in the marketing and manufacturing of nutritional supplements and foods, today provided an update on the potential expansion of the Company’s acquisition pipeline and an update on its M&A activities.
Currently, the Company is negotiating four profitable Health & Wellness acquisitions and exploring additional prospects as part of its post-restructuring strategy. These targets include Purely Optimal Nutrition, a liquid manufacturer, an established supplement brand, and a wholesale manufacturer and distributor.
Chairman A.J. Cervantes, Jr. stated, "We are on track with several potentially transformative strategic transactions. Once we finalize our upcoming 10-K and 10-Q filings, we plan to substantially accelerate our M&A activity, leveraging the potential acquisitions we've already identified. We are focused on acquiring profitable companies in the nutritional supplements and functional foods sectors. With restructuring complete, we are aggressively advancing our M&A efforts. We are targeting U.S. and foreign nutraceutical companies with
CEO Darren Minton added, "While there is no assurance that any particular acquisition will be completed, we believe the growing acquisition pipeline creates an enormous prospective opportunity for the Company. We remain committed to reaching our
Completion of any acquisitions in the Company’s pipeline is subject to a number of conditions including successful due diligence and financing.
Form 10-Q Report
As previously disclosed, on May 21, 2024, the Company received a notification letter from Nasdaq indicating that the Company is now delinquent in filing its Form 10-Q for the period ended March 31, 2024, which serves as an additional basis for the delisting of the Company’s securities from The Nasdaq Capital Market. The letter stated that the hearings panel will consider this matter in rendering a determination regarding the Company’s continued listing on Nasdaq.
On August 20, 2024, the Company received an additional notification letter from Nasdaq indicating that the Company is now delinquent in filing its Form 10-Q for the period ended June 30, 2024, which serves as an additional basis for the delisting of the Company’s securities from The Nasdaq Capital Market. The letter stated that the hearings panel will consider this matter in rendering a determination regarding the Company’s continued listing on Nasdaq. In that regard, the letter stated that the Company should present its views with respect to this additional deficiency to the hearings panel no later than August 27, 2024.
The Company management anticipates filing the Form 10-Q report upon completion of the Company’s audit.
About Smart for Life, Inc.
Smart for Life, Inc. (Nasdaq: SMFL) is an emerging growth company in the nutraceutical industry, committed to delivering innovative solutions that promote Health & Wellness. With a focus on research-driven formulations and consumer-centric approaches, Smart for Life is dedicated to redefining the boundaries of nutritional science. The Company is engaged in the development, marketing, manufacturing, acquisition, operation and sale of a broad spectrum of nutritional and products. 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 and related products as well as acquiring other profitable companies, encompassing brands, manufacturing and distribution channels. The Company recently concluded the execution of a restructuring plan including recapitalization of the Company with equity and debt financings, the sale of certain non-performing assets, and the successful liquidation of the Company’s senior debt facility. In addition, the Company converted substantial debt obligations to equity materially improving 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
FAQ
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