Youngevity Acquisition Sorvana International
FreeLife and L’dara Groups Assume the Youngevity Model
SAN DIEGO, CA – After originally announcing entering into formal talks with Sorvana back in June, leading omni-direct lifestyle company Youngevity International Inc (NASDAQ: YGYI) formally announced today that it has acquired Sorvana International’s assets.
Established in November of 2016, Sorvana International was the result of the merging of two natural wellness companies, FreeLife and L’dara, FreeLife has been a trusted leader in the natural wellness business backed by its 22 years of experience and is very popular in the United States, Canada, Australia and the Philippines. L’dara, on the other hand, has been in business since 2013 and is recognized for its award-winning skin care products.
“We are very proud of having closed on the acquisition of Sorvana International. Sorvana embodies so many of the attributes we look for in an acquisition, ranging from the level of quality products, the amount of distributors and customers, and the geographic footprint the company currently has in the marketplace. We have been seeking to acquire an established company with international distribution and we are very fortunate to have find that opportunity in Sorvana,” said Steve Wallach, Youngevity Chairman and CEO.
Dave Briskie, Youngevity International President and CFO had this to say: “Closing on this transaction is a great start to the second half of this very exciting year for Youngevity. The FreeLife and L’dara Brands along with their accompanying distribution represents both our largest top line revenue acquisition and the greatest data base of customers and distributors we have ever added to Youngevity. Their 22 year history as a successful direct selling company was a very compelling factor in our decision to pursue these brands as a desirable addition to Youngevity. We believe our two established cultures will create many benefits and cross marketing opportunities for both Youngevity and Sorvana distributors.”
“We couldn’t be happier with this merger,” said FreeLife and Sorvana CEO and Co-Founder Ray Faltinsky. “Youngevity is a perfect match for our commitment to science based, natural wellness products that transform lives. Its part of their DNA, as it is ours. And they have a corporate team that has made this merger seamless. We have gotten off to an incredible start and our field is excited!” he further stated.
“The response from our Sorvana Wellness Partners has been excellent,” stated FreeLife and Sorvana Co-Founder Kevin Fournier,. “They now have thousands of new products to share, new international markets to expand their business and the support of a talented and dedicated Youngevity corporate team to help them positively impact the lives of so many people in the future. We believe it is the perfect match of company culture and priorities. Our merger with Youngevity just feels so right to so many!”
About Youngevity International, Inc.
Youngevity International, Inc. (NASDAQ: YGYI), is a prime omni-direct lifestyle company — providing a composite of the direct selling business model, that also provides e-commerce and social selling. Organizing a variety of products and services under one corporate umbrella, Youngevity sells products under the following retail categories: health/nutrition, food/beverage, home/family, apparel/jewelry, spa/beauty, and several innovative services too.
Youngevity International was established during the summer 2011 merger of Youngevity Essential Life Sciences with Javalution® Coffee Company. The product of this merger became Youngevity International, Inc. in July 2013. For investor information, you can visit ygyi.com. For general information on the products and services we offer, please check us out at youngevity.com. We would also appreciate it if you can 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 expected benefits and cross marketing opportunities for both Youngevity and Sorvana distributors from the acquisition and the acquisition being believed to be the perfect match of company culture and priorities. 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, the acceptance of the Omni-direct approach by our customers, our ability to integrate the FreeLife and L’dara Brands along with their accompanying 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, 2015 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.
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