Smart for Life Appoints Accomplished Finance and Capital Markets Executive Arthur S. Reynolds to Board of Directors
October 21 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 Arthur S. Reynolds has
been appointed to the Company’s Board of Directors. Mr. Reynolds
will serve on the Compensation and Audit Committees and has been
appointed Chair of the Audit Committee.
Arthur S. Reynolds is an accomplished
international financier bringing more than 35 years of capital
markets and financial experience providing cross-border financial
consulting services in Europe for clients principally located in
the United States. He is the founder of Rexon Limited of London and
New York where he has served as managing director. Mr. Reynolds was
founder and managing partner of London-based Value Management &
Research (UK) Limited. Mr. Reynolds was the founder and served as
managing director of Ferghana Financial Services Limited. Prior
thereto, Mr. Reynolds held executive positions at Merrill Lynch
International Bank Limited, Banque de la Société Financière
Européene, J.P. Morgan & Company and Mobil Corporation. Mr.
Reynolds previously served on the Board of Directors of
ThermoEnergy Corporation, first as Chairman of the Audit Committee,
subsequently as Chief Financial Officer, and finally as Chairman.
Mr. Reynolds is a member of the Board of the International Festival
Society and serves as Chairman of the Elgar Society’s North America
Branch. Mr. Reynolds holds an B.A. from Columbia University, a M.A.
from Cambridge University, and an M.B.A. in Finance from New York
University.
A.J. Cervantes, Jr., Chairman of Smart for Life,
stated, "We are delighted to welcome Arthur to the Board of
Directors, including his role as Chairman of the audit
committee. He brings extensive financial and executive
experience across multiple sectors, with particular strength in the
international arena, which will be particularly valuable as we
expand our global footprint. Having completed five material
acquisitions in just the last year alone, and having recently
announced our sixth planned acquisition, we are on track to achieve
our goal of surpassing a $100 million revenue run rate within the
next 12 months. Given our aggressive growth plans, we look forward
to benefitting from Arthur’s knowledge, experience, and skills, as
we realize the synergies and operating efficiencies across the
acquired companies. We also believe his appointment further
reflects our commitment to the highest levels of corporate
governance.”
Mr. Reynolds further noted, “I am honored to
join the Board of Smart for Life at this exciting time, especially
given management’s proven track records and the highly fragmented
nature of this industry. They have repeatedly demonstrated their
ability to acquire complementary businesses at attractive
valuations, while driving economies of scale through their
state-of-the-art manufacturing facilities. As a result, Smart for
Life is rapidly emerging as a leader in the $400 billion
nutraceuticals industry, with an impressive array of high quality
nutritional foods and supplements. I look forward to leveraging my
capital markets and M&A experience to help maximize value for
shareholders.”
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 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 and Ceutamed
Worldwide. 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
ContactCrescendo Communications, LLCTel: (212)
671-1021SMFL@crescendo-ir.com
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