Youngevity International Announces Agreement for Strategic Acquisition of Legacy for Life0
SAN DIEGO, CA–(Marketwired – Aug 25, 2016) – 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 an agreement to acquire the assets of Legacy for Life, LLC a science-based, direct seller of IGY, the patented key ingredient in i26 and Legacy for Life Products. Additionally, Youngevity has entered into an Ingredient Supply Agreement to market i26 worldwide.
IGY promotes healthy gut flora and healthy digestion and was created by exposing a specially selected flock of chickens to natural elements from the human world, whereby they developed immunity to these elements. In a highly patented process, these special eggs are harvested as a whole food and are processed as a whole food into i26 egg powder, an all-natural product. Nothing is added to the egg nor does any chemical extraction take place.
Steve Wallach, Youngevity, CEO stated, “We have been working on bringing Legacy for Life into the Youngevity family for quite some time. We are intrigued by the fifteen years of research and the millions of dollars that have been spent to deliver a product that can partner with a person’s immune system in a way not possible in the past. We believe i26 is a product poised to change the way we stay well. With the importance of the human intestinal flora just beginning to be recognized as a factor in both intestinal and extra-intestinal health, we are thrilled to be able to add this very special ingredient and product line to Youngevity.”
Dave Briskie, President and CFO of Youngevity said, “We believe Legacy for Life is an ideal strategic acquisition for Youngevity which fits perfectly into our global plans. Not only will we pick up strong leadership in the US, but we intend to immediately leverage Legacy for Life’s already established offices in Taiwan and Hong Kong. We believe combining these capabilities with our Singapore office opened earlier this year will accelerate our expansion plans into Asia.”
Ainslee Crum, CEO of Legacy for Life concluded, “We are extremely excited to be able to join forces with Youngevity International. We believe this acquisition will be a positive and perfect win for everyone in the Legacy for Life Family and we are excited to bring i26 to Youngevity’s growing group of distributors and customers around the world.”