Laird Superfood, Inc. completed the acquisition of Navitas LLC from Encore Consumer Capital Fund II, L.P. managed by Encore Consumer Capital, LP, Ira A. Haber, Joanna C. Haber and Advantage Capital Investment Advisor, LLC.
Laird Superfood, Inc. (NYSEAM:LSF) entered into an agreement to acquire Navitas LLC from Encore Consumer Capital Fund II, L.P. managed by Encore Consumer Capital, LP, Ira A. Haber, Joanna C. Haber and Advantage Capital Investment Advisor, LLC for $38.5 million on December 21, 2025. The purchase price is subject to customary purchase price adjustments, including a working capital adjustment. In a related transaction, Laird singed a private placement agreement of $50 Million Convertible Preferred Equity Investment from Nexus Capital and Navitas Acquisition is expected to be funded through the private placement of $50 million of Series A Convertible Preferred Stock to affiliates of Nexus Capital Management, LP., with the option to draw up to an additional $60 million for future strategic opportunities. Laird will be required to pay a termination fee of $2 million plus certain public company accounting expenses in case of termination.
Navitas had annual revenues of nearly $36.4 million in 2024.
The transaction is subject to several conditions: (a) there shall not be in force any Applicable Law or Judgment preventing, enjoining, restraining or otherwise prohibiting the consummation of the Contemplated Transactions (b) the Purchaser Stockholder Approval shall have been obtained upon a vote taken thereon at the Purchaser Stockholders Meeting (c) completion of private placement and pending customary approvals and is expected to close in the first quarter of 2026.
Dan Malone and Matthew L. Fry of Haynes and Boone, LLP is serving as legal counsel to Laird. William Hood & Company, LLC is serving as financial advisor to Navitas and Gino A. Maurelli of Brownstein Hyatt Farber Schreck, LLP is serving as legal counsel to Encore Consumer Capital.Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to Nexus Capital Management, LP. Broadridge Corporate Issuer Solutions, Inc. acted as transfer agent to Laird Superfood. Campaign Management, LLC acted as proxy solicitor to Laird Superfood and will be paid a fee of $15,000.
Laird Superfood, Inc. (NYSEAM:LSF) completed the acquisition of Navitas LLC from Encore Consumer Capital Fund II, L.P. managed by Encore Consumer Capital, LP, Ira A. Haber, Joanna C. Haber and Advantage Capital Investment Advisor, LLC on March 12, 2026.
Laird Superfood, Inc. and its subsidiary, Picky Bars, LLC is a consumer products platform company. The Company is focused on manufacturing and marketing plant-based and functional foods. It creates plant-based superfood products that are both delicious and functional. The Company’s core Laird Superfood platform includes Creamer coffee creamers, Hydrate hydration products and beverage enhancing supplements, harvest snacks and other food items, and functional roasted and instant coffees, teas, and hot chocolate. Coffee creamers include sales of powdered and liquid coffee creamers. Hydration and beverage enhancing supplements include sales of Hydrate coconut waters, Activate and Renew supplement lines, and mushroom botanical blends. Harvest snacks and other food items include ready to eat food offerings as well as baking and pancake mixes. Coffee, tea, and hot chocolate products include traditional and functional ground and whole bean coffee, and hot chocolate with functional mushrooms.
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Laird Superfood, Inc. completed the acquisition of Navitas LLC from Encore Consumer Capital Fund II, L.P. managed by Encore Consumer Capital, LP, Ira A. Haber, Joanna C. Haber and Advantage Capital Investment Advisor, LLC.
