Smart for Life, a global developer, marketer and manufacturer of nutritional and related products, executed a non-binding letter of intent with Diamond Creek Capital for the provision of a senior secured credit facility up to $4 million principally to assist in its acquisition of 100% of the membership interests in Ceautamed Worldwide, the company’s anticipated acquisition. The announcement was made jointly by Thomas Harrison, managing partner of Diamond Creek and by A.J. Cervantes, Jr., Smart for Life’s chairman.
Previously, the company had entered into an agreement on July 1, 2021 with Diamond Creek for a senior facility of $3 million. The proceeds of that financing were used to acquire Doctors Scientific Organica, a Florida-based nutritional food company, and now a fully operating division of Smart for Life.
“We have been pleased with our initial investment in the Company, which was made last year prior to the IPO,” Thomas Harrison, managing partner of Diamond Creek, said. “We look forward to strengthening our relationship with Smart for Life through this financing as a Nasdaq-listed company.”
“Diamond Creek has been a terrific financing partner for Smart for Life,” Cervantes said. “They are an integral part of our ongoing acquisitions strategy and, more specifically, our pending acquisition of Ceautamed Worldwide.”
