Operator
Good afternoon, everyone, and thank you for joining today’s Laird Superfood acquisition announcement. My name is Regan, and I’ll be your moderator for today’s call.
[Operator Instructions] I would now like to pass the conference over to our host, Jason Vieth, CEO of Laird Superfood. Please proceed.
Jason Vieth
President, CEO & Director
Good afternoon, everyone. My name is Jason Vieth, and I’m the CEO of Laird Superfood. Thank you for joining me today as I share some exciting news about the future of our company. Today, we’re thrilled to announce that Laird Superfood has entered into an agreement to acquire Navitas LLC, the company behind the renowned Navitas Organics brand.
This acquisition valued at $38.5 million in cash is a pivotal step in our ongoing strategy to build a scaled and diversified platform in the functional nutrition space. We’re funding this acquisition through a $50 million convertible preferred equity instrument from Nexus Capital Management with the option to draw up to an additional $60 million for future strategic opportunities.
Both the acquisition and the investments are expected to close in the first quarter of 2026, pending customary approvals, including from our shareholders. Let me tell you a bit about Navitas Organics. Founded in 2003, Navitas has been a true pioneer in the superfoods category for over 20 years. Navitas specializes in high-quality organic nutrient-dense products like Cacao powder, Chia Seeds, Goji berries and other plant-based superfoods that appeal to health-conscious consumers.
With annual revenues of nearly $36.4