Youngevity Completes Acquisition Of BeneYOU, LLC
YGYI ADDS JAMBERRY, AVISAE, and M. GLOBAL BRANDS TO ITS PRODUCT PORTFOLIO
SAN DIEGO, Nov. 4, 2019 /PRNewswire/ -- Youngevity International, Inc. (NASDAQ: YGYI), a multi-channel lifestyle company operating in three distinct business segments including a commercial coffee enterprise and its expanding commercial hemp enterprise, announced today that is has closed the acquisition of BeneYOU, LLC's assets with an effective date of November 1, 2019.
Youngevity Founder and CEO, Steve Wallach said, "We are proud to welcome the customers and distributors of Jamberry, Avisae and M.Global into our organization and we look forward to showcasing all of their exciting products to Youngevity distributors and customers around the world." He continued, "We anticipate the strong potential for cross marketing and promotional opportunities as we expose our product portfolio to the over 3 million customers and distributors within the database of these exciting brands."
BeneYOU's flagship brand Jamberry has an extensive line of Nail products with a core competency in social selling. Avisae focuses on the gut health, and M.Global delivers hydration products.
"We've built BeneYOU on principles of integrity, hard work and progressive thinking," said BeneYOU CEO Ryan Anderson. "The cultures of Youngevity and BeneYOU are completely aligned and I expect to watch our customers and associates thrive as they benefit from the significant resources of Youngevity along with their strong executive team."
Dave Briskie, President and CFO of Youngevity, stated, "In terms of both top line revenue and the size of the database this is our largest business acquisition to date. I have had the pleasure of meeting several of the key sales force leaders within BeneYOU and I believe that we are a better company with this talent within our sales team." He continued, "At the end of Q2 we had stated that to drive growth in the direct selling segment we intended to ramp up our acquisition model. This business combination places us firmly on that path."
About Youngevity International, Inc.
Youngevity International, Inc. ( NASDAQ : YGYI ), is a multi-channel lifestyle company operating in 3 distinct business segments including a commercial coffee enterprise, a commercial hemp enterprise, and a multi-vertical omni direct selling enterprise. The Company features a multi-country selling network and has assembled a virtual Main Street of products and services under one corporate entity, YGYI offers products from the six top selling retail categories: health/nutrition, home/family, food/beverage (including coffee), spa/beauty, apparel/jewelry, as well as innovative services. For investor information, please visit YGYI.com. Be sure to like us on Facebook and follow us on Twitter.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 strong potential for cross marketing and promotional opportunities, BeneYOU customers and associates thriving as they benefit from the significant resources of Youngevity along with their executive team, being a better company with the BeneYOU talent within our sales team and plans to ramp up our acquisition model. These forward-looking statements are based on management's expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, our ability to cross market our product portfolio and expand promotional opportunities within the BeneYOU database, the ability of BeneYOU customers and associates to benefit from the resources of Youngevity and its executive team, our ability to be a better company with the BeneYOU talent within our sales team, our ability to successfully integrate the assets of BeneYOU, LLC and complete other post-closing deliverables, our ability to ramp up our acquisition model, our ability to add additional products (whether developed internally or through acquisitions, such as the BeneYOU acquisition our ability to improve our profitability, expand our liquidity, and strengthen our balance sheet, our ability to continue to maintain compliance with the NASDAQ requirements, the acceptance of the omni-direct approach by our customers, our ability to expand our distribution, our ability to continue our financial performance and the other factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2018 and our subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-Kand the other factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2018 and our subsequent filings with the SEC, 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 on account of new information, future events, or otherwise, except as required by law
Youngevity International, Inc.
President and Chief Financial Officer
1 800 982 3189 X6500
YGYI Investor Relations
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