BOULDER, Colo., March 13 — Laird Superfood, Inc. (NYSE American: LSF) (“Laird Superfood,” “Laird” or the “Company”), today announced the completion of its previously announced acquisition of all of the outstanding equity of Navitas LLC (“Navitas”) for a purchase price of $38.5 million (the “Navitas Acquisition”). The Navitas Acquisition was funded through the concurrent private placement (the “Nexus Investment” and, together with the Navitas Acquisition, the “Transactions”) of $50.0 million of Series A Convertible Preferred Stock (the “Series A Preferred Stock”) to affiliates of Nexus Capital Management, LP (“Nexus”). The Transactions were approved by the Company’s stockholders at a special meeting held on March 11, 2026.
With the closing of these Transactions, Laird Superfood enters a new chapter as a scaled platform in functional nutrition. “Today marks a pivotal milestone for our Company,” said Jason Vieth, Chief Executive Officer of Laird Superfood. “By bringing Navitas into the Laird Superfood family, we are combining two pioneering brands united by a shared commitment to clean-ingredient, high-quality nutrition. Together, we believe that we have the product breadth, supply chain capabilities and consumer reach to accelerate growth and deliver on our vision of building a leading positive nutrition platform.”
The combination is equally significant for Navitas. “We are thrilled to officially join forces with Laird Superfood,” said Ira Haber, Chief Executive Officer of Navitas. “Our brands share a deep-rooted mission of making nutrient-dense, minimally processed foods accessible to consumers everywhere. As part of this combined platform, we are well positioned to reach new audiences, drive innovation across our product portfolios and continue delivering on the quality and integrity that Navitas customers have come to expect.”
The investment from Nexus provides the capital to support the combined company’s growth ambitions and future strategic transactions. “We are pleased to formalize our partnership with Laird Superfood at this transformative moment for the business,” said Michael Cohen, Partner at Nexus. “Laird has built a differentiated portfolio of premium products with strong consumer loyalty, and the addition of Navitas meaningfully strengthens that position. We look forward to working alongside the management team to drive long-term value creation.”
“Laird Superfood and Navitas are two brands built on authenticity and a commitment to real, nutrient-dense food,” added Kayla Dean Obia, Principal at Nexus. “These transactions create a powerful platform for innovation, expanded distribution and long-term growth — all while staying true to the values that resonate with today’s health-conscious consumers. With the Nexus Investment structured to provide additional growth capital, we are well positioned to pursue complementary food and beverage brands as the Company continues to scale as a positive nutrition platform.”
