Smart for Life Names Stuart Benson, JD, as Managing Director of its Newly Formed Smart Acquisition Group
August 30 2022 - 9:15AM
Smart for Life, Inc. (Nasdaq: SMFL) (“Smart for Life” or the
“Company”), a high growth global leader in the Health &
Wellness sector marketing and manufacturing nutritional foods and
supplements worldwide, today announced that Stuart Benson, JD, has
been named Managing Director of the Company’s newly formed
subsidiary, Smart Acquisition Group, LLC (“SAG”). SAG is expanding
the Company’s M&A growth initiatives through the
identification, negotiation, financing and acquisition of companies
by Smart for Life. Mr. Benson most recently served as the Chairman
of Ceautamed Worldwide, LLC, the owner of the Greens First line of
branded products acquired by Smart for Life on July 29, 2022.
“I met Stuart over a year ago and in the ensuing
period of time Smart for Life acquired two companies from Stuart.
Most recently, we acquired his company, Ceautamed Worldwide, and
previously, we acquired GSP Nutrition, owner of the Sports
Illustrated Nutrition brand in November 2021,” said A.J. Cervantes,
Jr., the Company’s Chairman. “I have been continually impressed by
the depth of his industry relationships, his knowledge of both
securities and corporate law as an attorney, in addition to his
financing and business acumen. I can’t think of a better executive
to head up our dedicated acquisition group.”
“Throughout our negotiations this past year,
I’ve gotten to know A.J., Darren Minton, the Company’s CEO and Alan
Bergman, the Company’s CFO and have developed deep respect for the
entire Smart for Life team,” said Mr. Benson. “The Company is not
only aggressively ramping up its M&A activities, it is now
targeting significantly larger and more profitable companies. For
these reasons, I’m excited to be leading the SAG team with a
primary focus on maximizing value for shareholders.”
About Stuart Benson, JD
Mr. Benson is the Managing Director of Smart
Acquisition Group, LLC, the special purpose group dedicated
exclusively to the identification, negotiation, financing and
acquisition of companies synergistic to Smart for Life’s Buy &
Build business model. Mr. Benson is a former principal of Ceautamed
Worldwide, LLC, owner of the Greens First line of brand products,
Smart for Life’s acquisition completed on July 28, 2022. Mr. Benson
was also the Chief Executive Officer of Wellness Watchers Global,
LLC. Mr. Benson served as the Chairman and Chief Executive Officer
of Custom Food Concepts, Inc. from 1997 to 2001, a company engaged
in real estate and franchising. He also served as Executive Vice
President of Vital Living Inc. in 2001 and 2002 and served as its
Chief Executive Officer since 2005. He served as Chairman,
President and Chief Executive Officer of Nathan's Famous, Inc. and
the Great Earth Vitamin Store chain. During his tenure at Nathan's
Famous, the company expanded from 14 units to more than 300,
including locations at interstate highways and airports. During Mr.
Benson's tenure at the Great Earth Vitamin Store chain, it grew to
approximately 150 full-service vitamin retail stores throughout the
U.S. and became the second largest vitamin store in the U.S.
About Smart for Life, Inc.
Smart for Life, Inc. (Nasdaq: SMFL) is a high
growth global leader in the Health & Wellness sector, marketing
and manufacturing nutritional foods and supplements worldwide.
Structured as a publicly held international 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 within the next thirty-six months. 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. The
Company currently operates five subsidiaries including Doctors
Scientific Organica, Nexus Offers, Bonne Santé Natural
Manufacturing, GSP Nutrition/Sports Illustrated Nutrition and
Ceautamed Worldwide/Greens First. For more information about Smart
for Life, please visit: www.smartforlifecorp.com.
Video regarding the Company’s manufacturing
facility at Bonne Santé Natural Manufacturing is available at:
www.bonnesantemanufacturing.com/video.
Investor material and a Fact Sheet with
additional information about Smart for Life is available at:
www.smartforlifecorp.com/investor-center.
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.
Investor Relations Contact
Crescendo Communications, LLCTel: (212)
671-1021SMFL@crescendo-ir.com
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