Laird Superfood To Get Pe Majority Investor Alongside Navitas Acquisition

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

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

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

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

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

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

When Nexus’ first finance and nan acquisition of Navitas are some finalised, nan private-equity patient will clasp conscionable complete 53.5% of Laird Superfood’s issued and outstanding stock. Five Nexus candidates will beryllium connected nan Laird Superfood board.

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

In nan first 9 months of nan 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 nan corresponding play of 2024.