Laird Superfood announced the acquisition of Navitas LLC for $38.5 million in cash, marking a significant strategic move in functional nutrition.
The acquisition is expected to be funded through a $50.0 million investment from Nexus Capital Management, LP in Series A Convertible Preferred Stock.
The integration of Navitas is anticipated to broaden Laird Superfood's product offerings, strengthen its position in the wellness market, and drive synergies through shared values of high-quality nutrition and health wellness focus.
Navitas LLC Acquisition
Laird Superfood announced the acquisition of Navitas LLC for a purchase price of $38.5 million in cash.
Nexus Investment
Nexus Capital Management, LP will invest $50.0 million in Series A Convertible Preferred Stock as part of the Transactions.
Synergies and Value Creation
The combination with Navitas is expected to drive synergies through complementary supply chains, sourcing networks, and distribution channels.
Strategic Goal
Laird Superfood's strategic goal is to build a scaled platform of healthful food and beverage brands, with a focus on high-quality, clean-ingredient products.
Series A Preferred Stock Details
The Series A Preferred Stock has a conversion price of $3.57 per share, further details subject to customary anti-dilution adjustments.
- The acquisition of Navitas LLC will broaden Laird Superfood's product lineup and strengthen its position in the superfoods and wellness market.
- The investment from Nexus Capital will provide growth capital to support new product development and expand reach across e-commerce and retail partners.
The acquisition of Navitas LLC and the $50 million convertible preferred equity investment from Nexus Capital are strategic moves that are expected to drive growth, expand product offerings, and enhance market positioning for Laird Superfood.