Wednesday, Smart for Life, Inc (NASDAQ:SMFL) announced the potential expansion of its acquisition pipeline and provided an update on its M&A activities.

The Company is currently negotiating the acquisition of four profitable Health & Wellness targets with several additional prospects in exploratory discussions as part of the Company's post-restructuring initiatives. 

The acquisitions include the following:

"Smart for Life is committed to pursuing revenue and earnings growth through the acquisition of profitable companies focused on nutritional supplements and functional foods," stated A.J. Cervantes, Jr., Chairman of Smart for Life.

Smart for Life is seeking profitable companies in the nutraceutical industry across the United States and prospective foreign acquisitions. It is preliminarily targeting companies with annual revenue between $5 million and $25 million. 

Darren Minton, Smart for Life's Chief Executive Officer: "We look forward to keeping everyone apprised of our developments as we continue to implement our strategy and drive toward our publicly stated goal of $100 million in revenue through both organic growth and M&A initiatives."

Price Action: SMFL stock closed higher by 1.56% at $0.9700 on Tuesday.