Youngevity Acquires Adaptogenix
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Youngevity® Acquires Adaptogenix International, Direct Seller of Science-based Health and Wellness Products
Deal Includes Pur3X? Line of "Designer Beverages"
SAN DIEGO, Aug. 25, 2011 /PRNewswire/ -- Youngevity Essential Life Sciences, a global direct marketer of lifestyle and nutritional products and gourmet healthy coffee, announced today that it is acquiring Adaptogenix International, the Salt Lake City-based direct seller of a unique line of botanical-derived products. Youngevity is a wholly-owned subsidiary of AL International, Inc. (JCOF-PK).
Adaptogenix is the fourth company Youngevity has acquired since its merger with Javalution Coffee Company earlier this summer.
"Once again, we are pleased to bring into our 'consumer cloud' yet another company that has great synergies with us and further adds to the reach of our rapidly-growing independent sales force," said Steve Wallach, CEO of Youngevity. "The growth plan we announced to shareholders earlier this year is continuing on track. This latest acquisition adds to our momentum as we build a consumer cloud of friend-to-friend advertising for multiple products and services."
Adaptogenix offers premium products addressing health and wellness concerns such as support for healthy brain function and weight management. Adaptogens are a class of botanical compounds that support the body's innate healing ability and natural resistance to stress.* Privately-owned Adaptogenix was launched last year by founder and CEO, Andrew Rinehart. The company has sales in North America, Asia, and the Middle East.
Rinehart will continue to participate actively with the company. "Andrew's energy and expertise are priceless assets. We are thrilled to have the benefit of his involvement as we move forward," said Wallach.
The acquisition also includes a new line of health- and wellness-supporting "designer beverages," including Pur Renew, an energy drink, and Pur Revolution, an all-natural vitamin and antioxidant drink.* Last year Adaptogenix had revenues of $3.37 million.
"Adaptogenix is a profitable, debt-free company with a healthy bottom line. Besides adding to our profitability and product line, this acquisition brings us an additional 4,000 active sellers and a database of more than 25,000 additional customers. These are people who already have an interest in healthy lifestyle products, so we know they'll love the chance to buy and sell the hundreds of products in our Youngevity and JavaFit® lines," said Wallach. He noted that the Adaptogenix line includes a proprietary brand of healthy coffee, which fits well with the JavaFit coffee brands.
Wallach said the acquisition was structured in a way that is favorable to Youngevity shareholders and that there is no share dilution, because no new shares were issued.
About Youngevity
Youngevity Essential Life Sciences (www.youngevity.com), a wholly-owned subsidiary of AL International, Inc., is a nutritional and coffee company dedicated to improving lifestyles through vibrant health and flourishing economics. Founded in 1997 by Drs. Joel Wallach, DVM, ND and Ma Lan, MD, Youngevity is the only network marketing company with an FDA-authorized health claim. CLR Roasters, a coffee roasting and distribution company, is a wholly owned subsidiary.
On July 11, 2011 Youngevity merged with Javalution Coffee Company (www.javalution.com), which owns and distributes Cafe La Rica and other brands, which are distributed to retailers. Javalution also roasts the JavaFit brand of coffee with health benefits.
*These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.