SGS Nutrasource to Assist with Next Generation Product Development as Smart for Life Accelerates M&A Activity
MIAMI, Feb. 05, 2024 (GLOBE NEWSWIRE) -- Smart for Life, Inc. (Nasdaq: SMFL) (“Smart for Life” or the “Company”), a global leader in the Health & Wellness sector marketing and manufacturing nutritional supplements and foods worldwide, announced today that it has selected SGS Nutrasource, a premier global contract research organization (“CRO”), to assist Smart for Life in the analysis of various regulatory, product development, and testing solutions for its products and dietary supplements, as Smart for Life accelerates its M&A activity.
“The SGS Nutrasource services are a central component of our compliance strategy and our commitment to all current regulatory guidelines as we continue to expand our product lines through accretive acquisitions,” stated Darren Minton, CEO of Smart for Life. “SGS Nutrasource has an impeccable reputation for excellence in science and regulation, not only in the U.S. and Canada, but globally. Having access to this industry-leading level of expertise allows us to differentiate our products, register new products in countries around the world where they specialize, in addition to driving value for shareholders as we embark on the next phase of our M&A strategy.”
Smart for Life’s management notes that SGS Nutrasource will be in a strong position to assist in regulatory compliance with the Company’s growing number of acquisition targets. SGS Nutrasource specializes in global regulatory compliance, product claims support, clinical trials, and product testing for dietary supplements, foods and beverages, pet products, and medical products.
“We are delighted to work with Smart for Life, to support them with their product development goals and registration efforts as they expand their product lines in key markets,” stated Loren Brown, SGS Nutrasource Director of Business Development. “The Health & Wellness market continues to develop quickly in so many key areas through novel formulation, advanced delivery technology, and the resulting potential for unique product strategies.”
SGS Nutrasource is expected to provide material value related to market access, regulatory classification, and further operational and strategic development as Smart for Life navigates the complex regulatory issues of products sold not only in the United States, but many countries around the world within SGS Nutrasource’s global regulatory and compliance reach.
“This agreement with SGS Nutrasource will give us a distinct advantage as we continue to accelerate our M&A strategy and expand product lines in both domestic and international markets,” stated A.J. Cervantes, Jr., Smart for Life’s Founder and Chairman. “With several acquisitions in our immediate pipeline, we believe Smart for Life is well positioned for significant growth in 2024 as we reaffirm our mission to reach $100 million in annualized revenue over the next year and $300 million in revenue by 2026.”
SGS Nutrasource has four offices in three countries with a staff of over 150. It is part of SGS, the world’s leading testing, inspection and certification company, which has 98,000 employees that operate a network of 2,650 offices and laboratories, working together to enable a better, safer and more interconnected world.
About SGS Nutrasource
SGS Nutrasource is a leading nutraceutical and pharmaceutical life sciences company focused on helping clients commercialize health and wellness products. In addition to a unique offering of clinical trial management, strategic and regulatory support services along with a state-of-the-art clinical trial site, Nutrasource offers a series of third-party natural ingredient product certification programs (NutraStrong™, IFOS™, IKOS™, IGEN™, IPRO™, and ICAP™). For more information, please visit: www.nutrasource.ca
About Smart for Life, Inc.
Smart for Life, Inc. (Nasdaq: SMFL) is engaged in the development, marketing, manufacturing, acquisition, operation and sale of a broad spectrum of nutritional and related products with an emphasis on health and wellness. Structured as a publicly held global holding company, the Company is executing a Buy-and-Build strategy with serial accretive acquisitions creating a vertically integrated company with an objective of aggregating companies generating a minimum of $300 million in revenues by the fourth quarter of 2026. To drive growth and earnings, Smart for Life is developing proprietary products as well as acquiring other profitable companies, encompassing brands, manufacturing and distribution channels. 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.
Contact Information:
Crescendo Communications, LLC
Tel: (212) 671-1021
SMFL@crescendo-ir.com
