Laird Superfood, Inc. announced that it has entered into an agreement to acquire all of the outstanding equity of Navitas LLC for a purchase price of $38.5 million in cash, subject to customary purchase price adjustments.

The Navitas acquisition is expected to be funded through the private placement of $50.0 million of Series A Convertible Preferred Stock to affiliates of Nexus Capital Management, LP. The Nexus investment is subject to approval by Laird’s stockholders and the satisfaction of other customary closing conditions. The parties expect to consummate the Transactions in the first quarter of 2026.

The combination is expected to broaden Laird Superfood’s product lineup and strengthen its position in the rapidly growing superfoods and wellness market. The Navitas Acquisition is expected to bring clear synergies and value creation through the integration of complementary supply chains, sourcing networks, and distribution channels. Further, the Navitas Acquisition is intended to drive scale and expand reach across e-commerce and retail partners. 

Navitas’ expertise in nutrient-dense, minimally processed foods closely aligns with Laird Superfood’s mission of real-food performance, creating opportunities for new product development that addresses evolving consumer demand for wellness and sustainability. 

Nexus has agreed to purchase an initial 50,000 shares of Series A Preferred Stock at a purchase price of $1,000 per share for gross proceeds of $50.0 million. In addition, Laird has the option, for up to one year following the closing and subject to certain conditions, to require Nexus to purchase, upon the same terms, up to an additional 60,000 shares of Series A Preferred Stock, the proceeds of which must be used for strategic transactions.