Laird Superfood to get PE majority investor alongside Navitas acquisition

Laird Superfood has moved to bargain US integrated food-and-drinks concern Navitas – and announced concern from private-equity steadfast Nexus Capital Management.

Publicly listed Laird Superfoods has agreed a woody to bargain the California-based Navitas for $38.5m.

Navitas, established successful 2003, sells a scope of integrated products including acai powder, hemp seeds and powdered lattes.

The woody volition beryllium funded done Nexus buying $50m of Series A banal successful Laird Superfood.

“This acquisition represents a meaningful measurement guardant successful our strategy to physique a scaled, diversified level successful functional nutrition,” Laird Superfood CEO Jason Vieth, said. “We judge that the Navitas marque and portfolio of integrated superfoods is simply a large complement to Laird Superfood and propels america guardant successful our strategical extremity of gathering a scaled level of healthful nutrient and beverage brands.”

Nexus has agreed to bargain an archetypal tranche of 50,000 shares successful Laird Superfood astatine a acquisition terms of $1,000 per share. Laird Superfood has the option, for up to 1 twelvemonth pursuing the deal, to necessitate Nexus to purchase, upon the aforesaid terms, up to an further 60,000 shares of its Series A preferred stock, the proceeds of which "must beryllium utilized for strategical transactions", a connection read.

When Nexus' archetypal concern and the acquisition of Navitas are some finalised, the private-equity steadfast volition clasp conscionable implicit 53.5% of Laird Superfood’s issued and outstanding stock. Five Nexus candidates volition beryllium connected the Laird Superfood board.

“Laird has built a compelling level of premium, high-quality products with beardown user loyalty and the summation of Navitas further strengthens that foundation,” Nexus spouse Michael Cohen said.

In the archetypal 9 months of the year, Laird Superfood generated nett income of $36.5m, a 15% summation connected a twelvemonth earlier.

The institution posted a nett nonaccomplishment of $1.5m, versus 1 of $1.4m successful the corresponding play of 2024.

"Laird Superfood to get PE bulk capitalist alongside Navitas acquisition" was primitively created and published by Just Food, a GlobalData owned brand.

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