Laird Superfood acquires Navitas, a US organic food-and-drinks business, for $38.5m. Nexus Capital Management invests $50m in Laird through buying Series A stock. The deal aims to expand a diverse platform in functional nutrition, with Nexus holding 53.5% of Laird’s stock and five board seats.

Navitas, founded in 2003, offers organic products like acai powder and hemp seeds. Laird Superfood CEO sees the acquisition as a positive move towards a larger healthful food and beverage brand platform. Nexus’s investment further solidifies the premium product line and strengthens consumer loyalty.

In the first nine months of the year, Laird Superfood saw a 15% increase in net sales to $36.5m. However, the company reported a net loss of $1.5m during the same period. The strategic acquisition and PE investment are seen as steps towards growth and expansion in the health food market.

Read more at Yahoo Finance: Laird Superfood to get PE majority investor alongside Navitas acquisition