Smart for Life Acquires Sports Illustrated Nutrition Trademark Rights
Rhea-AI Summary
Smart for Life, Inc. (NASDAQ: SMFL) announced the rollout of its Sports Illustrated Nutrition brand following the acquisition of GSP Nutrition, Inc., finalized on December 6, 2021. The product introduction commenced on a test market basis, with full availability expected in Q1 2022. Smart for Life aims to develop proprietary products and pursue acquisitions to create a vertically integrated company targeting $300 million in annual revenue within 36 months. GSP Nutrition specializes in sports supplements, offering a range of products including protein powders and vitamins.
Positive
- Launch of Sports Illustrated Nutrition brand expands product offerings.
- Acquisition of GSP Nutrition enhances market presence in the growing sports nutrition sector.
- Aim to achieve $300 million in revenues within three years creates growth potential.
Negative
- Integration challenges may arise from the recent acquisition.
- Market competition in the sports nutrition sector could hinder growth.
News Market Reaction – SMFL
In the trading session that priced this news, SMFL gained 12.84%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Rights Were Secured Pursuant to SMFL’s Acquisition of GSP Nutrition
MIAMI, Feb. 24, 2022 (GLOBE NEWSWIRE) -- Smart for Life, Inc. (NASDAQ: SMFL), a leading developer, marketer, and manufacturer of nutritional and related products, today announced the rollout of its Sports Illustrated Nutrition brand pursuant to its acquisition of GSP Nutrition, Inc., as disclosed in the prospectus for the company’s recently closed initial public offering. The announcement was made by A.J. Cervantes, Jr., the Smart for Life Chairman.
The acquisition of GSP Nutrition, Inc. and the Sports Illustrated Nutrition brand was completed on December 6, 2021. The initial rollout of the Sports Illustration Nutrition product, marketed by the Company’s Nexus Offers’ division, has now commenced on a test market basis with full rollout anticipated within Q-1 2022.
About Smart for Life
Smart for Life 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 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
GSP Nutrition, Inc./Sports Illustrated Nutrition
GSP Nutrition is a sports nutrition company that offers nutritional supplements for athletes and active lifestyle consumers through a variety of wellness solutions and delivery methods, including powders, tablets and soft gels that are formulated to support energy and performance; nutrition and wellness; and focus and clarity. GSP’s initial line of nutritional products is marketed under the “Sports Illustrated Nutrition”™ brand.
The Sports Illustrated® brand is one of the most recognized brands in sports and athletics. The product line currently consists of Sports Illustrated Nutrition Whey Protein Isolate powder, tablet supplements for joint health, nitric oxide, post workout blends, Omega-3 supplements, and pre-workout supplements, among others.
The sports nutrition market has grown significantly in recent years. A variety of factors have contributed to the scope of the sports nutrition market growing to also encompass professionally committed and more casual athletes, as well as fitness, wellness, and active lifestyle-oriented consumers. A leading factor contributing to the “mainstreaming” of the sports nutrition market has been the overall aging of the population. There has been a growing societal appreciation for the importance of regular exercise, active lifestyles and healthier eating to overall health and wellness. www.sportsillustratednutrition.com
Forward Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” "will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the SEC and other reports filed with the SEC thereafter. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
Investor Relations Contact:
Crescendo Communications, LLC
Tel: (212) 671-1021
SMFL@crescendo-ir.com
