Smart For Life Agrees To Acquire Vitamin & Supplement Company Ceautamed For Undisclosed Sum
Smart For Life Inc (NASDAQ: SMFL) has agreed to acquire the vitamin and supplement company Ceautamed Worldwide LLC and its affiliates, Wellness Watchers Global LLC and Greens First Female LLC. The financial terms of the transaction were not disclosed.
Ceautamed, based in Florida, is principally engaged in the development and distribution of nutritional products, including antioxidant rich supplements, plant-based protein, alkalizing nutrients, and products designed for weight management.
Ceautamed, which used third-party contract manufacturing, will migrate to Smart for Life's FDA-certified manufacturing facility based in Miami, Florida.
Ryan Benson will be staying as the subsidiary Ceautamed's Chief Executive Officer post-acquisition.
The company expects the Ceautamed acquisition to leverage its direct-to-consumer expertise and cross-marketing Greens First products through its existing marketing initiatives on Amazon.Com Inc (NASDAQ: AMZN) and other platforms.
Price Action: SMFL shares are trading higher by 2.99% at $0.86 on the last check Tuesday.
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