Dive Brief:
- Laird Superfoods is doubling down on its presence in health and wellness with the purchase of Navitas nutritional powders, berries, seeds and other products for $38.5 million in cash. The acquisition is expected to close in the first quarter of 2026.
- The transaction expands Laird's portfolio to include Navitas’ organic acai powder, hemp bites and cacao sweet nibs, among other products.
- Laird, best known for its creamers, coffees and snacks, is funding the acquisition through the sale of $50 million of Series A convertible preferred stock to affiliates of private equity firm Nexus Capital Management.
Dive Insight:
The $40 million purchase price for Navitas is nearly double Laird’s market capitalization and a big bet for the performance company to strengthen its position in the rapidly growing superfoods and wellness market.
In a statement announcing the deal, Laird said the companies will benefit from an overlap in supply chains, sourcing networks and distribution channels. Navitas’ expertise in nutrient-dense, minimally processed foods closely aligns with Laird Superfood’s mission of providing consumers with functional products that enhance wellness.
Navitas will also drive scale and expand Laird’s reach across e-commerce and retail partners.
"This acquisition represents a meaningful step forward in our strategy to build a scaled, diversified platform in functional nutrition," Jason Vieth, Laird’s CEO, said in a statement. This “propels us forward in our strategic goal of building a scaled platform of healthful food and beverage brands."
Laird, which was co-founded by big wave surfer Laird Hamilton in 2015, has managed to stand out in the healthy and wellness space even as consumers pull back on spending. During its most recent quarter, net sales rose 10% from the same period a year earlier. Still, it lost $1 million in sales during the quarter.
