Laird Superfood CEO talks up sales benefit of Navitas deal

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powder, hemp seeds and powdered lattes.Laird Superfood completed the $38.5m acquisition earlier this month and, speaking to analysts on Thursday (26 March), CEO Jason Vieth outlined how the deal could boost sales.“There’s a significant amount of crossover when you consider retailers similar to Laird Superfood. They are predominantly natural channel [the] largest accounts being Whole Foods and Sprouts, so very similar to the Laird Superfood portfolio,” Vieth said.“It’s a great portfolio of products. They compete in different categories but a very similar temperature state: shelf-stable pouch products that are very, very much like what you see with Laird Superfood.There’s not really a consolidation of items that makes sense. This is actually an expansion of items as we consider both brands but there is quite a lot of overlap and we’re working through that now with the combined sales organisation, which will really allow us to go to market in a more impactful way.”Vieth added: “Now we can go in with two exceptional brands and really play a much more important role to those retailers as well.We’re really excited about the assortment opportunities that this creates being able to leverage one brand for the next brand. We expect to see some really nice distribution gains in years ahead.”Alongside deal for Navitas, Laird Superfood also announced investment from private-equity firm Nexus Capital Management, backing that funded the acquisition.Under the terms of their agreement, Nexus agreed to buy an initial tranche of 50,000 shares in Laird Superfood at a purchase price of $1,000 per share. Laird Superfood has the option, for up to one year following the deal, to require Nexus to purchase, upon the same terms, up to an additional 60,000 shares of its Series A preferred stock, the proceeds of which “must be used for strategic transactions”, the statement issued on 22 December read.The private-equity firm now owns more than half the publicly-listed Laird Superfood but Vieth explained why the investment – with the potential of more to come – would support the company’s ambitions.He told analysts on Thursday the possible additional proceeds from Nexus “are earmarked for an acquisition or other growth initiatives with any remainder available for general corporate purposes”.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoTrending tickersRZLV Rezolve AI PLC 2.5150 +0.1250 (+5.23%)ELAB PMGC Holdings Inc. 3.6580 +1.9880 (+119.04%)XOM Exxon Mobil Corporation 174.58 +3.59 (+2.10%)BFRG Bullfrog AI Holdings, Inc. 1.2769 +0.7686 (+151.21%)ETH-USD Ethereum USD 2,058.92 +73.40 (+3.70%)PortfolioSign in to access your portfolioSign inTop gainersCLMT Calumet, Inc. 35.92 +3.85 (+12.02%)CENX Century Aluminum Company 55.20 +5.55 (+11.18%)UTHR United Therapeutics Corporation 582.57 +59.74 (+11.43%)AA Alcoa Corporation 64.68 +6.27 (+10.73%)BBWI Bath & Body Works, Inc. 18.26 +1.46 (+8.69%)Top losersMANE Veradermics, Incorporated 56.91 -8.62 (-13.15%)SYY Sysco Corporation 72.87 -8.93 (-10.92%)AAOI Applied Optoelectronics, Inc. 86.89 -11.32 (-11.53%)LASR nLIGHT, Inc. 57.32 -7.01 (-10.89%)NXST Nexstar Media Group, Inc. 195.33 -17.80 (-8.35%)Most activeNVDA NVIDIA Corporation 166.52 -1.00 (-0.60%)FRMI Fermi Inc. 4.7380 -1.4420 (-23.33%)ONDS Ondas Inc. 8.30 -0.51 (-5.74%)MU Micron Technology, Inc. 343.93 -13.15 (-3.68%)INTC Intel Corporation 42.56 -0.57 (-1.32%)Top economic eventsEarnings eventsMy earnings eventsEarnings events