SAN DIEGO, CA--(Marketwired - Aug 15, 2016) - Youngevity International, Inc. (OTCQX: YGYI) (www.YGYI.com), a global direct marketer of nutritional and lifestyle products and also a vertically-integrated producer of gourmet coffees for the commercial, retail and direct sales channels, announced today that the Company has entered into a definitive acquisition agreement to acquire the assets of Nature's Pearl Corporation, a grower, manufacturer, and direct seller of Muscadine grape products, including nutritional supplements, skin care, Muscadine juice and other personal care products. Additionally, Youngevity has entered into an agreement for the exclusive rights to manufacture Muscadine products utilizing Nature's Pearl's technology.
Nature Pearl's Muscadine grape extract has recently been the subject of research studies conducted at Wake Forest School of Medicine. These studies revealed the extract to have significant anti-oxidative effects in the body and to provide demonstrably effective support for the immune system function. In addition, that research revealed substantial cardio protective properties of the extract, providing critical support for heart and circulatory health. The studies were conducted based on a philanthropic grant of $20 million to Wake Forest.
Steve Wallach, Youngevity CEO stated, "We are pleased and excited to acquire the assets of Nature's Pearl, a company that brings an array of products based on the benefits of the Muscadine grape. Upon closing and full integration on September 1, 2016, Youngevity will be the only direct selling Company to offer Muscadine personal care products to their distributors and customers. As a vertically integrated producer of Muscadine grapes, we understood and embraced the opportunity to acquire Nature's Pearl."
Dave Briskie, President and CFO of Youngevity said, "It gives me great pleasure to announce the definitive agreement for the acquisition of Nature's Pearl. This acquisition made sense for Youngevity and its shareholders on many synergistic levels. Based on our due diligence, our review of Nature's Pearl's merchant accounts demonstrated their recent revenues annualized at a rate of $9 million. In addition, the opportunity to acquire a data base of 17,000 distributors and 45,000 consumers in both the US and key international markets, such as Canada and Jamaica, which contribute to over 20% of the revenue base, are very appealing to us from the onset of our discussions."
Jerry Smith, Founder and CEO of Nature's Pearl, "We are extremely excited to be acquired by Youngevity International. We looked at many companies during this process and it became quite obvious that Youngevity was the clear choice. We believe Youngevity and its distributors represent the fit we were looking for to continue to market our Muscadine based products, now to a potentially wider customer base."
About Youngevity International, Inc.
Youngevity International, Inc. (OTCQX: YGYI) (www.YGYI.com) is a fast-growing, innovative, multi-dimensional company that offers a wide range of consumer products and services, primarily through person-to-person selling relationships that comprise a "network of networks." The Company also is a vertically-integrated producer of the finest coffees for the commercial, retail and direct sales channels. The Company was formed after the merger of Youngevity Essential Life Sciences (www.youngevity.com) and Javalution Coffee Company in the summer of 2011. The company was formerly known as AL International, Inc. and changed its name to Youngevity International, Inc. in July 2013.
Safe Harbor Statement
This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 on our current expectations and projections about future events. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions and includes statements regarding the expectation that the acquisition will bring a significant network of distributors and customers to us, the synergies to be derived from the integration, the effects of Muscadine for anti-oxidative effects in the body and potential cardioprotective properties, the belief that our distributors represent the fit to continue to market the Muscadine based products, to a potentially wider customer base, our belief that we have a business with extraordinary potential because of the strength of our products and brands and the capabilities of our outstanding distributors and the ability to quickly reach revenue potential. These statements are based upon current beliefs, expectations and assumptions and include statements regarding and are subject to a number of risks and uncertainties, many of which are difficult to predict, including the risk that the integration will not be as successful as anticipated, that revenues for Nature's Pearl will continue as is or continue to grow, that future clinical results of studies of Muscadine will continue to support the current findings, and the other factors described in our Report on Form 10-K for the year ended December 31, 2015 and its other filings with the Securities and Exchange Commission, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release based on new information, future events, or otherwise, except as required by law.