Laird Superfood has moved to buy US organic food-and-drinks business Navitas – and announced investment from private-equity firm Nexus Capital Management.

Publicly listed Laird Superfoods has agreed a deal to buy the California-based Navitas for $38.5m.

Navitas, established in 2003, sells a range of organic products including acai powder, hemp seeds and powdered lattes.

The deal will be funded through Nexus buying $50m of Series A stock in Laird Superfood.

“This acquisition represents a meaningful step forward in our strategy to build a scaled, diversified platform in functional nutrition,” Laird Superfood CEO Jason Vieth, said. “We believe that the Navitas brand and portfolio of organic superfoods is a great complement to Laird Superfood and propels us forward in our strategic goal of building a scaled platform of healthful food and beverage brands.”

Nexus has agreed to buy an initial tranche of 50,000 shares in Laird Superfood at a purchase price of $1,000 per share. Laird Superfood has the option, for up to one year following the deal, to require Nexus to purchase, upon the same terms, up to an additional 60,000 shares of its Series A preferred stock, the proceeds of which "must be used for strategic transactions", a statement read.

When Nexus' first investment and the acquisition of Navitas are both finalised, the private-equity firm will hold just over 53.5% of Laird Superfood’s issued and outstanding stock. Five Nexus candidates will sit on the Laird Superfood board.

“Laird has built a compelling platform of premium, high-quality products with strong consumer loyalty and the addition of Navitas further strengthens that foundation,” Nexus partner Michael Cohen said.

In the first nine months of the year, Laird Superfood generated net sales of $36.5m, a 15% increase on a year earlier.

The company posted a net loss of $1.5m, versus one of $1.4m in the corresponding period of 2024.