Benson Provides Deep Nutraceutical Industry Business Experience to the Highly Diversified Board
Miami, FL – August 24, 2023 – Globe Newswire – Smart for Life, Inc. (Nasdaq: SMFL) (“Smart for Life” or the “Company”), a high growth global leader in the Health & Wellness sector marketing and manufacturing nutritional foods and supplements worldwide, announced today that it has appointed Stuart Benson, JD to the Company’s recently formed high-level advisory board.
“Stuart has a long and successful career in a broad array of businesses, with the last 20 years focused on the nutraceutical industry and more specifically the growth and success of Ceautamed Worldwide, Smart for Life’s most recent acquisition,” stated Darren Minton, Smart for Life’s CEO.
“Throughout our time together, I’ve gotten to know Darren Minton, the Company’s CEO, A.J. Cervantes, the Company’s Chairman and Alan Bergman, the Company’s CFO and have developed deep respect for the entire Smart for Life team,” said Mr. Benson. “The Company is not only aggressively ramping up its M&A activities, it is now targeting significantly larger and more profitable companies. For these reasons, I’m excited to join the Company’s advisory board.”
Mr. Minton concluded, “A highly diversified advisory board such as this supports our management team in gaining new insights and advice to solve business problems or explore new opportunities. The advisory board has not been formed to make important company decisions, but to provide strategic thinking and analysis to support the management and the Board of Directors.”
About Stuart Benson, JD
Mr. Benson is a former principal of Ceautamed Worldwide, LLC, owner of the Greens First line of brand products, Smart for Life’s acquisition completed on July 28, 2022. Mr. Benson was also the Chief Executive Officer of Wellness Watchers Global, LLC. Mr. Benson served as the Chairman and Chief Executive Officer of Custom Food Concepts, Inc. from 1997 to 2001, a company engaged in real estate and franchising. He also served as Executive Vice President of Vital Living Inc. in 2001 and 2002 and served as its Chief Executive Officer since 2005. He served as Chairman, President and Chief Executive Officer of Nathan’s Famous, Inc. and the Great Earth Vitamin Store chain. During his tenure at Nathan’s Famous, the company expanded from 14 units to more than 300, including locations at interstate highways and airports. During Mr. Benson’s tenure at the Great Earth Vitamin Store chain, it grew to approximately 150 full-service vitamin retail stores throughout the U.S. and became the second largest vitamin store in the U.S.
About Smart for Life, Inc.
Smart for Life, Inc. (Nasdaq: SMFL) is engaged in the development, marketing, manufacturing, acquisition, operation and sale of a broad spectrum of nutritional and related products with an emphasis on health and wellness. Structured as a publicly held global holding company, the Company is executing a Buy-and-Build strategy with serial accretive acquisitions creating a vertically integrated company with an objective of aggregating companies generating a minimum of $300 million in revenues by the fourth quarter of 2026. To drive growth and earnings, Smart for Life is developing proprietary products as well as acquiring other profitable companies, encompassing brands, manufacturing and distribution channels. The Company currently operates five subsidiaries including Doctors Scientific Organica, Nexus Offers, Bonne Santé Natural Manufacturing, GSP Nutrition and Ceautamed Worldwide. For more information about Smart for Life, please visit: www.smartforlifecorp.com.
Video regarding the Company’s manufacturing facility at Bonne Santé Natural Manufacturing is available at: www.bonnesantemanufacturing.com/video.
Investor material and a Fact Sheet with additional information about Smart for Life is available at: www.smartforlifecorp.com/investor-center.
This press release may contain information about our views of future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on management’s beliefs, assumptions and expectations of Smart for Life’s future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Although Smart for Life believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Smart for Life does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. No assurances can be made that Smart for Life will successfully acquire its acquisition targets. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause Smart for Life’s actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Actual results may differ materially from the expectations discussed in forward-looking statements. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in local or national economic conditions and other risks set forth in “Risk Factors” included in our filings with the Securities and Exchange Commission.
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