SMFL Smart for Life Inc

Smart for Life, Inc. (Nasdaq: SMFL) (“Smart for Life” or the “Company”), a distinguished leader in the Health & Wellness sector specializing in the marketing and manufacturing of nutritional supplements and foods, announced today the potential expansion of the Company’s acquisition pipeline and provided an update on its M&A activities.

The Company is currently negotiating the acquisition of four profitable Health & Wellness targets with several additional prospects in exploratory discussions as part of the Company’s post-restructuring initiatives. These acquisitions include the following:

• Purely Optimal Nutrition – Previously announced acquisition. The Company and the Purely Optimal management are actively collaborating on the restructuring of their sales initiatives to improve Purely Optimal’s profitability prior to closing of the acquisition.
• Liquid Manufacturer – Contract manufacturer with sales of approximately $12 million and profitable in the prior fiscal year.
• Established Supplement Brand – Historical sales of approximately $10 million annually and profitable through nutraceutical products.
• Wholesale Manufacturer and Distributor – Generating revenue of approximately $8 million and profitable in retail channels.

“Smart for Life is committed to pursuing revenue and earnings growth through the acquisition of profitable companies focused on nutritional supplements and functional foods,” stated A.J. Cervantes, Jr., Chairman of Smart for Life. “Although our acquisition activity was paused during our restructuring initiatives, we are now aggressively advancing those M&A activities. Upon completing our forthcoming 10-K and 10-Q filings, we intend to significantly ramp up M&A activity, building on the potential acquisitions identified.”

Smart for Life is seeking profitable companies in the nutraceutical industry across the United States as well as prospective foreign acquisitions, preliminarily targeting companies with between $5 million and $25 million in annual revenue. We pursue targets that are committed to innovation, high quality standards, organic growth, and that have a keen interest in partnering with a publicly held organization.

“We believe this pipeline represents a significant addition to our M&A initiatives,” stated Darren Minton, Smart for Life’s Chief Executive Officer. “While there is no assurance that any particular acquisition will be completed, we believe the growing acquisition pipeline creates an enormous prospective opportunity for the Company. We look forward to keeping everyone apprised of our developments as we continue to implement our strategy and drive toward our publicly stated goal of $100 million in revenue through both organic growth and M&A initiatives.”

Completion of any acquisitions in the Company’s pipeline is subject to a number of conditions including successful due diligence and financing.

About Smart for Life, Inc.

Smart for Life, Inc. (Nasdaq: SMFL) is an emerging growth company in the nutraceutical industry, committed to delivering innovative solutions that promote Health & Wellness. With a focus on research-driven formulations and consumer-centric approaches, Smart for Life is dedicated to redefining the boundaries of nutritional science. The Company is engaged in the development, marketing, manufacturing, acquisition, operation and sale of a broad spectrum of nutritional and products. Structured as a publicly held holding company, the Company is executing a Buy-and-Build strategy with serial accretive acquisitions creating a vertically integrated company. To drive growth and earnings, Smart for Life is developing proprietary and related products as well as acquiring other profitable companies, encompassing brands, manufacturing and distribution channels. The Company recently concluded the execution of a restructuring plan including recapitalization of the Company with equity and debt financings, the sale of certain non-performing assets, and the successful liquidation of the Company’s senior debt facility. In addition, the Company converted substantial debt obligations to equity materially improving the Company’s balance sheet. For more information about Smart for Life, please visit: www.smartforlifecorp.com.

Forward-Looking Statements

This press release may contain information about our views of future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on management’s beliefs, assumptions and expectations of Smart for Life’s future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Although Smart for Life believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Smart for Life does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. No assurances can be made that Smart for Life will successfully acquire its acquisition targets. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause Smart for Life’s actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Actual results may differ materially from the expectations discussed in forward-looking statements. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in local or national economic conditions and other risks set forth in “Risk Factors” included in our filings with the Securities and Exchange Commission.

Disclaimer

The information provided in this press release is intended for general knowledge only and is not a substitute for professional medical advice or treatment for specific medical conditions. Always seek the advice of your physician or other qualified health care provider with any questions you may have regarding a medical condition. This information is not intended to diagnose, treat, cure or prevent any disease.

Investor Relations Contact

Crescendo Communications, LLCTel: (212) 671-1021SMFL@crescendo-ir.com