Youngevity Acquires Financial Destination Inc
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SAN DIEGO, Oct. 27, 2011 -- Youngevity Essential Life Sciences, a wholly-owned subsidiary of AL International, Inc. and global direct seller of lifestyle and nutritional products and gourmet healthy coffee, said earlier this week that it has finalized its acquisition of Financial Destination, Inc. (FDI), a nationwide direct seller of financial, telecommunications, and health and wellness-related services.
"The joining of our organizations is a game changer for both companies. Bringing FDI into the Youngevity family represents the largest acquisition that we have done to date. Elements of this partnering include having FDI's President and CEO become the President of Youngevity. FDI's strong corporate team stays intact to support the one company," explained AL International CFO, Chris Nelson. "This partnering is going so well that we all are currently calling the combined family of companies FDI-Youngevity," he added.
The merger adds FDI's approximately 100,000 customer contacts and nearly 10,000 active marketers to Youngevity's international direct selling network. Since January, more than 300,000 consumers have used FDI's free pharmacy discount card, saving over $5 million. The card offers discounts of up to 85% at major pharmacies such as Walgreens, CVS, Target and Wal-Mart. The merger allows FDI's sales force to offer the full range of Youngevity's more than 400 lifestyle products as well as JavaFit coffees to their customers, while Youngevity sellers may now add FDI's financial benefits to their customers.
"Mergers and acquisitions are a key component of our aggressive growth strategy," said Steve Wallach, CEO of AL International. "The deal with FDI represents an important and exciting piece of the 'network of networks' we're creating that brings together independent entrepreneurs and hundreds of thousands of customers. Moreover, FDI's distributor training and recognition programs, regarded as second to none in the direct selling industry, are already beginning to take our company to the next level," he added.
William J Andreoli, founder of FDI and President of Youngevity, called the merger "a win-win" for all sides. "Youngevity provides a strong and aggressive marketing group plus exceptional products and solid infrastructure. The FDI team now has access to their gourmet coffee line, hundreds of consumable products, and international marketing opportunities. Consumers are looking for ways to simplify their lives, stay healthy, and achieve financial stability. Working with Youngevity, we believe we can offer solutions to what today's consumers are looking for," he said.