Laird Superfood Buys Navitas for $38.5M, Secures $50M Nexus Capital Backing
Laird Superfood completed its $38.5 million acquisition of Navitas this month and forecasts significant distribution gains through crossover at Whole Foods and Sprouts retailers. Private-equity firm Nexus Capital bought 50,000 shares at $1,000 per share and may buy an additional 60,000 Series A shares to fund future growth.
1. Acquisition Completed
Laird Superfood closed its $38.5 million acquisition of Navitas earlier this month, adding a range of organic products including acai powder, hemp seeds and powdered lattes.
2. Distribution Strategy
CEO Jason Vieth projects significant distribution gains from portfolio overlap at major natural retailers such as Whole Foods and Sprouts, leveraging combined sales teams to expand shelf-stable pouch offerings across both brands.
3. Nexus Capital Backing
Private-equity firm Nexus Capital Management purchased 50,000 Laird Superfood shares at $1,000 each and holds an option to buy up to 60,000 more Series A shares, with proceeds earmarked for acquisitions and growth initiatives.