Naughty Nuts
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Smart Organic Expands Global Reach with Acquisition of Naughty Nuts

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Smart Organic’s Strategic Acquisition

Bulgaria’s leading organic products manufacturer and distributor, Smart Organic [BUL:SO], announced its acquisition of insolvent German food startup Naughty Nuts for 150,000 euros ($163,924). This strategic move marks a significant expansion of Smart Organic’s international operations, with a particular focus on the DACH region.

A Path to Profitability

Smart Organic intends to merge Naughty Nuts’ business operations into its own German subsidiary of the same name. Additionally, the production of Naughty Nuts will be shifted to Smart Organic’s manufacturing facilities, a move expected to revitalize the business and restore profitability, as stated in the company’s bourse filing.

A Liability-Free Acquisition

Smart Organic clarified that the transaction does not include any of Naughty Nuts’ existing liabilities. By assuming only the assets, Smart Organic mitigates potential risks and positions itself for a seamless integration process.

Naughty Nuts’ Bankruptcy

Cologne-based nut butter maker Naughty Nuts faced insolvency due to insufficient investment capital to sustain its growth. Despite generating a turnover of 2.5 million euros in 2022, the startup struggled to secure the necessary resources, leading to its bankruptcy, according to the filing.

New Leadership, Continued Employment

The founders of this company, who established the company in 2020 to address the demand for healthy and sustainably produced nut butters, will assume leadership roles in Smart Organic’s German subsidiary. The transfer of current employees to the combined business ensures continuity and expertise within the revamped organization.

Impressive Growth Trajectory

In the first quarter of this year, Smart Organic reported a remarkable 46% year-on-year increase in consolidated revenue, amounting to 17.3 million levs ($9.7 million/8.85 million euros). The surge was primarily driven by a staggering 125% sales growth in the German market, underscoring the company’s strong presence and potential for further expansion.


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