EXCLUSIVE: Smart for Life Announces Strategic Acquisition of Purely Optimal, Eyes Revenue Growth
Portfolio Pulse from Anusuya Lahiri
Smart for Life, Inc (NASDAQ:SMFL) announced its acquisition of Purely Optimal Nutrition, aiming to accelerate revenue growth and expand margins. Purely Optimal, an eCommerce nutraceuticals company, has generated over $8 million in revenue and $1 million in Adjusted EBITDA over the past twelve months. The acquisition, expected to close within eight weeks, is subject to financing and customary closing conditions. Following the news, SMFL shares rose by 10.70% to $0.55 in premarket trading.
April 08, 2024 | 12:00 pm
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Smart for Life's strategic acquisition of Purely Optimal Nutrition is expected to accelerate revenue growth and expand margins, with Purely Optimal generating over $8 million in revenue and $1 million in Adjusted EBITDA. SMFL shares rose by 10.70% to $0.55 in premarket trading following the announcement.
The acquisition of Purely Optimal by Smart for Life is a strategic move to enhance the company's revenue and profitability. Purely Optimal's strong financial performance, with over $8 million in revenue and $1 million in Adjusted EBITDA, indicates a positive impact on Smart for Life's financial health. The immediate positive reaction in SMFL's stock price, with a 10.70% increase in premarket trading, reflects investor optimism about the acquisition's potential to drive growth.
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