SAN DIEGO, CA--(Marketwired - Jun 19, 2017) - In the news release, "Youngevity Acquires FreeLife & L'dara Through Acquisition of Sorvana International," issued earlier today by Youngevity International, Inc. (
Youngevity Acquires FreeLife & L'dara Through Acquisition of Sorvana International
Sorvana International Represents Largest Acquisition to Date
SAN DIEGO, CA -- Jun 19, 2017 -- Youngevity International, Inc. (
Ray Faltinsky, CEO and Co-Founder of Sorvana International stated, "For over 18 months we have been in discussions with Youngevity and other potential companies, and we came to the conclusion that Youngevity is the best fit for us and provides the best opportunity for our Wellness Partners around the world. I am impressed with Youngevity's Executive Team and we are confident that Youngevity's Omni-Direct, multi-vertical strategy represents an opportunity that has a tremendous future. Our Wellness Partners are very enthusiastic about the expanded opportunity to market and get rewarded for sales on thousands of products in a number of different categories, and in a number of new countries."
"I can tell you that we dug very deeply and have found Youngevity has a very compelling vision and we believe the platform they have developed will provide enormous upside for our Wellness Partners and customers into the foreseeable future," stated Co-Founder, Kevin Fournier, "I believe our Wellness Partners will have enormous success within Youngevity and I am confident Youngevity's distributors and customers will enthusiastically embrace FreeLife and L'dara quality products."
Mr. Faltinsky and Mr. Fournier will assist with all aspects of integrating Sorvana's sales force and will continue as distributors of Youngevity following the closing.
"FreeLife has a proud 22 year history of success in the Direct Selling Profession and L'dara's patented skin care products are very special. We believe acquiring Sorvana International represents a true extension of our mission of betterment, and delivering exceptional, science based wellness products for optimal health to our customers," stated Steve Wallach, CEO and Co-Founder of Youngevity. He continued, "We are very proud of this acquisition as it represents our largest transaction in terms of top line revenue and in numbers of quality field leadership."
"We are excited to announce the acquisition of Sorvana, as we anticipate our up-listing to the Nasdaq Capital Market Exchange on June 21. This business combination fortifies and strengthens our position in the US, Philippines, New Zealand, Australia, Canada, Hong Kong, and Singapore," stated Dave Briskie, President and CFO of Youngevity. We are optimistic about the substantial size of the data base of distributors and customers that is now available to Youngevity. We will immediately begin marketing to Sorvana's 50,000 plus distributors and customers and look forward to working with the very impressive field leadership group that is part of this merger."
Youngevity was founded upon the pioneering principles of Dr. Joel Wallach; always looking forward to the betterment of society. Today Youngevity continues to meet this mission with groundbreaking products, innovative services and a fulfilling business opportunity individually defined through flexibility and personal lifestyle choices. And in this Pursuit of Betterment, the Company continues to build and grow its Youngevity Be the Change Foundation. 100% of the profits from Youngevity Be the Change Coffee, and other special products highlighted on the Foundation website finance Foundation operations.
About Youngevity International, Inc.
Youngevity International, Inc. (
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 closing date of the acquisition of Sorvana, the belief that our platform will provide enormous upside for Sorvana's distributors and customers over the next several years and into the foreseeable future, the benefits expected to be derived from the acquisition and the anticipated NASDAQ uplisting. 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 successfully merger Sorvana with our company, the acceptance of the omni-direct approach by our customers, our ability to expand our distribution, our ability to add additional products (whether developed internally or through acquisitions), our ability to continue our financial performance, our ability to meet and continue to meet the NASDAQ listing requirements and the other factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2016 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.