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.”