Youngevity Completes Acquisition of Future Global Vision
SAN DIEGO, CA–(Marketwired – Nov 20, 2017) – Youngevity International, Inc. (NASDAQ: YGYI), a leading omni-direct lifestyle company, today announced it has closed the acquisition of the assets of Future Global Vision.
Future Global Vision was formed in March 2013 by Raul Serrano and his team to help people achieve health and personal growth. They have a strong presence in Mexico and are expected to be helpful in future expansion into Latin America. Along with a hydrogen based nutraceutical product, Future Global Vision brings with them a new product vertical to Youngevity with their fuel additive product line. Their EF products improve fuel efficiency and power in engines for personal vehicles, large trucks, and boats.
Steve Wallach, Chairman and CEO of Youngevity stated, “We are very pleased to have completed the acquisition of Future Global Vision. This new member of the Youngevity family of brands brings attributes intended to complement the Youngevity opportunity. With distributors in several Spanish speaking countries and a market appropriate line of fuel additives, this integration should strengthen our position in Latin America. “
“With the closing of this transaction,” said Dave Briskie, President and CFO of Youngevity International, “Youngevity continues our targeted expansion efforts focused on fortifying our position in various, already opened or planned to open, international markets. The Future Global leaders are eager to seek to expand their reach by leveraging our platform, which features a wide range of products and new markets in which they can now capitalize.”
Raul Serrano, Future Global Vision President and Founder is equally pleased with joining Youngevity, stating, “From the moment I met with Steve Wallach and the team at Youngevity, I felt like I found a home for my company. We share a culture of generosity and professionalism that makes this merger an easy fit for us. Our organization is excited to take advantage and become a part of the unique omni-direct platform that Youngevity is building around the world.”
About Youngevity International, Inc.
Youngevity International, Inc. (NASDAQ: YGYI), is a leading omni-direct lifestyle company — offering a hybrid of the direct selling business model, that also offers e-commerce and the power of social selling. Assembling a virtual Main Street of products and services under one corporate entity, Youngevity 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. The Company was formed in the course of the summer 2011 merger of Youngevity Essential Life Sciences with Javalution® Coffee Company (now part of the company’s food and beverage division). The resulting company became Youngevity International, Inc. in July 2013. For investor information, please visit ygyi.com. For general information on products and services, please visit us at youngevity.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,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions, and includes statements regarding Future Global Vision’s presence in Mexico being expected to be helpful in future Latin America expansion, Future Global Vision bringing attributes intended to complement the Youngevity opportunity, and the expectation that the integration of Future Global Vision should strengthen our position in Latin America. 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 contribution of Future Global Vision to our future Latin American expansion, the attributes of Future Global Vision complementing the Youngevity opportunity, our ability to strengthen our position in Latin America and integrate Future Global Vision along with their accompanying distribution, the acceptance of the omni-direct approach by our customers, 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, 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.
PCG Advisory Group