SAN DIEGO, CA, U.S. – Youngevity International, Inc. yesterday announced it has entered into a definitive agreement for the acquisition of the assets of Sorvana International. Sorvana International was formed in November of 2016 through the unification of two natural Wellness companies, FreeLife and L’dara.
FreeLife has been in business for 22 years providing natural wellness products predominantly in the United States, Canada, Australia, and Philippines and L’dara is known for its award winning patented skin care products.
The companies have scheduled the closing of the transaction and the merger of the businesses to take place on July 1, 2017.
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.”