Laird Superfood (NYSEAMERICAN:LSF) CEO Jason Vieth announced that the company has entered into an agreement to acquire Navitas LLC, the owner of the Navitas Organics brand, in a cash transaction valued at $38.5 million. Vieth described the deal as a “pivotal step” in Laird Superfood’s strategy to build a scaled, diversified platform in functional nutrition.
The acquisition is expected to be funded through a $50 million convertible preferred equity instrument from Nexus Capital Management. Vieth added that the investment includes an option for Laird Superfood to draw up to an additional $60 million for future strategic opportunities. Both the Navitas acquisition and the Nexus investment are expected to close in the first quarter of 2026, subject to customary approvals, including shareholder approval.
Navitas Organics profile and strategic rationale
Financially, management said Navitas generated nearly $36.4 million in revenue in 2024 and has built distribution across natural and conventional grocery, club channels, and e-commerce. Vieth also emphasized Navitas’ profitability at the gross margin level, citing a 32.7% gross margin for 2024 and describing the business as “growing double digits.” In the Q&A session, he reiterated that the company is not yet providing detail below gross margin, noting that Laird has nine months of financials and expects to provide more information in connection with proxy materials.
Combined scale and expected benefits
Vieth said Laird Superfood generated more than $43 million in net sales in fiscal 2024 and expects net sales growth of 15% in 2025 versus the prior year. With Navitas, management expects the transaction to be “immediately accretive” and to create a combined pro forma annual revenue base of approximately $80 million for 2024.
In addition to scale, Vieth outlined several areas where the combination could create operational and commercial benefits:
- Supply chain and sourcing: Vieth said the companies’ sourcing networks and supply chains are “highly complementary.” He noted that both businesses use co-manufacturing and third-party logistics (3PL), and management sees an opportunity to optimize costs by combining those networks.
- Distribution expansion: Management expects to expand reach through shared channels, including retail partners and e-commerce platforms.
- Cross-portfolio innovation: Vieth pointed to potential new product development that blends Navitas’ raw organic superfoods with Laird’s performance-oriented functional ingredients such as adaptogens and mushrooms.
He also said Laird is excited to welcome the Navitas team, led by CEO Ira Haber, and characterized the combination as a step toward building a broader portfolio of health and wellness brands.
Channel mix differences and cross-selling opportunities
During Q&A, Vieth said Navitas has a more established wholesale business than Laird Superfood. He framed that as an opportunity for Laird, which has stated a goal of increasing its wholesale presence, to learn from Navitas’ relationships and approach in that channel.
Conversely, Vieth said Laird Superfood has a more established e-commerce business, particularly direct-to-consumer (DTC), and more experience in Amazon. He described Navitas’ Amazon presence as “nice” but more “nascent” than Laird’s, suggesting Laird’s experience could help accelerate Navitas’ e-commerce performance. Vieth also indicated that consumer overlap between the brands should support cross-selling efforts.
M&A strategy and timeline considerations
Analysts asked whether Laird plans to pursue additional acquisitions and whether management would wait for full integration of Navitas before doing another deal. Vieth said the company intends to keep a “wide aperture” in evaluating potential targets across functional foods, particularly premium, value-added products with functional benefits. He noted that the combined portfolio will be largely shelf-stable—primarily “bags of product”—while also reiterating interest in functional beverages, an area Laird has discussed previously.
On timing, Vieth said management does not want to “box” itself into a rigid integration timeline, adding that the businesses are similarly sized and “not overly complicated.” He said Laird expects to merge “backbones” including IT and systems to run efficiently across the two platforms. While he acknowledged there will likely be “a little bit of a pause” after completing the Navitas deal process, Vieth said the company views the current environment as an “opportune moment to be aggressive,” and that it will remain active in evaluating a potential “third pillar” acquisition.
Vieth said investors should expect additional updates, including more financial information and an investor presentation around the time the company files its proxy in January.
About Laird Superfood (NYSEAMERICAN:LSF)
Laird Superfood, Inc (NYSE American: LSF) is a consumer wellness company specializing in plant-based superfood and functional beverage products. Founded in 2015 by big-wave surfer and entrepreneur Laird Hamilton, the company develops creamers, coffees, hydration mixes and culinary superfood blends designed to deliver energy, focus and nutritional support. Laird Superfood’s offerings leverage premium ingredients such as coconut milk, aquamin sea minerals, functional mushrooms and adaptogens to address growing consumer demand for clean-label, nutrient-rich alternatives.
The company’s core product lines include coconut-based coffee creamers, plant-based creamers, instant coffee blends combined with superfood ingredients, hydration mixes and culinary seasonings.
