NewAge, Inc. has officially acquired Aliven, Inc., a Japan-based health and wellness business that offers skin care products infused with stem cells and patented Invel® Far-Infrared Technology Products.
This acquisition is expected to add $20 million in net revenue and more than $3 million in annual EBITDA to a core market for NewAge. Aliven also brings more than 100,000 customers and independent representatives to the agreement.
“We believe the acquisition and integration of Aliven will be a perfect strategic fit with our current business in Japan,” said Joseph Wadsworth, NewAge Japan President. “We will immediately begin to fully integrate Aliven into NewAge and believe this will aid in the acceleration of our sales and profit growth in this large and long-term important region for NewAge.”
In consideration of the acquisition, NewAge issued approximately 1 million shares of NewAge common stock.
“Further bolstering our Japan business will be Yasuyuki Oi, President of Aliven, adding significant senior leadership strength to the Japan executive team, where he will contribute his talent and experience to growing sales and strengthening government relations,” Wadsworth said. “This acquisition is the next step in our ongoing strategy to make NewAge the preeminent social seller and direct-to-consumer marketer in Japan, and further evidence of our long-term commitment to winning in this globally important market.”