Wednesday, Smart for Life, Inc ( 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:

Purely Optimal Nutrition—This was a previously announced acquisition. The Company and Purely Optimal management are actively collaborating on restructuring their sales initiatives to improve Purely Optimal's profitability prior to closing the acquisition.

Liquid Manufacturer – Contract manufacturer with sales of approximately $12 million and profitable in the prior fiscal year.

Established Supplement Brand – Historical sales of approximately $10 million annually and profitable through nutraceutical products.

Wholesale Manufacturer and Distributor – Generating approximately $8 million in revenue and profitable in retail channels.

"Smart for Life ( SMFL ) 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 ( SMFL ).

Smart for Life ( SMFL ) 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 ( SMFL ) 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.