Smart For Life To Acquire Purely Optimal Nutrition For Undisclosed Terms
(RTTNews) - Health & Wellness firm Smart for Life, Inc. (SMFL) announced Monday that it has executed a definitive agreement to acquire Purely Optimal Nutrition, a premier eCommerce nutraceuticals company with operations in North America. The terms of the deal were not disclosed.
The profitable acquisition is expected to contribute more than $8 million of annualized revenue and over $1 million of adjusted EBITDA.
The acquisition is expected to close within the next eight weeks and is subject to financing and customary closing conditions.
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SEC Fines Seven Companies With Whistleblower Violation
The U.S. Securities and Exchange Commission announced that it has settled charges against seven public companies for using employment, separation, and other agreements that violated rules prohibiting actions to impede whistleblowers from reporting potential misconduct to the SEC. The companies agreed to pay more than $3 million combined in civil penalties to settle the SEC's charges.
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FTSE 100 Drifts Lower As Budget Deficit Widens
U.K. stocks drifted lower on Tuesday after data showed the U.K. budget deficit widened more than estimated in September and also hit the highest level for the month since 2021.
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CAC 40 Slides As US Deficit Worries Grow
French stocks were slightly lower on Tuesday amid rising inflation expectations and concerns over U.S. fiscal deficit.
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DAX Rises As SAP Raises Annual Outlook
German stocks traded higher on Tuesday after software giant SAP raised its full-year targets on a strong cloud business in the third quarter.
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Asian Shares Mostly Lower As Yields Climb
Asian stocks ended broadly lower on Tuesday as Middle East tensions persisted and rising bond yields made investors rethink about rate cut chances.
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UK Budget Deficit Widens More Than Estimated
The UK budget deficit widened more than officially estimated in September and also hit the highest level for the month since 2021, the Office for National Statistics reported Tuesday. Public sector net borrowing increased to GBP 16.6 billion in September from GBP 14.5 billion in the previous year. This was the third highest September borrowing since monthly records began in January 1993.
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Europe New Car Registrations Fall For Second Month: ACEA
Europe's new car registrations declined for the second straight month in September due to the fall in sales across France, Germany and Italy, data published by the European Automobile Manufacturers' Association, or ACEA, showed Tuesday. New car sales decreased 6.1 percent in September from a year ago. However, this was much slower than the 18.3 percent fall posted in August.
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European Economic News Preview: UK Public Sector Finance Data Due
Public sector finance data from the UK and new car registrations from Europe are the top economic news due on Tuesday. At 2.00 am ET, the Office for National Statistics publishes UK public sector finance data. The public sector net borrowing is seen at GBP 17.4 billion in September compared to GBP 13.7 billion in August.
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