Laird Superfood (LSF) has announced an agreement to acquire all outstanding equity of Navitas for $38.5 million in cash, a transaction that management suggests could advance its strategy to build a scaled platform in functional nutrition. The company indicated the combination may broaden its product lineup by pairing Laird’s food and beverage offerings with Navitas’ portfolio of organic superfoods, potentially strengthening its presence across e-commerce and retail channels. Executives from both companies described the deal as a complementary fit rooted in shared priorities around clean ingredients, wellness-focused consumers, and minimally processed nutrition.
The acquisition is expected to be funded through a $50.0 million private placement of Series A Convertible Preferred Stock to affiliates of Nexus Capital Management, subject to Laird stockholder approval and other customary closing conditions. Nexus has agreed to purchase 50,000 shares at $1,000 per share, and Laird retains the option, for up to one year following closing and subject to certain conditions, to require Nexus to purchase up to an additional 60,000 shares on the same terms, with proceeds designated for strategic transactions. The preferred stock will carry a 5% cumulative and compounding annual dividend, a conversion price of $3.57 subject to customary anti-dilution adjustments, and voting rights on an as-converted basis alongside common stock.
Based on shares outstanding as of December 19, 2025, Nexus’s equity interest would represent approximately 53.5% of Laird on a diluted basis for in-the-money instruments at $2.20 per share following closing, and the board is expected to be reconstituted to nine members, including five Nexus designees. Management teams from Laird, Navitas, and Nexus indicated the transaction could create opportunities for supply chain integration, expanded distribution, and new product development, while also providing additional capital that may support longer-term growth initiatives once the transactions are completed.