Zinzino announced today that it has signed a letter of intent with the shareholders of Zurvita Inc. to acquire 100% of its shares in the company. Zinzino expects the acquisition to increase its distribution power in North America by gaining access to Zurvita’s distribution network in the US, Canada and Mexico.
Acquisitions have been an important part of Zinzino’s global growth strategy. The company acquired VMA Life in 2020 and Enhanzz in 2022, developed a strategic partnership with ACN, and recently completed the asset acquisition of Xelliss. The intention to acquire Zurvita is the next step as it seeks additional investments to expand into new markets, strengthen its distribution power, maintain its profitable growth cycle and leverage its growing product portfolios in new consumer markets.
“Personalized advice and tailored solutions are the future, and not just in health and wellness,” said Dag Bergheim Pettersen, Zinzino CEO, and Jay Shafer, Zurvita CEO and Co-Founder. “Together, we have years of combined industry experience and everything it takes to drive the modern, personalized shopping experience through direct sales.”
Zinzino plans to finance the acquisition with its own cash flow and existing liquidity and will pay approximately $16.5 million, of which $5 million will be newly issued Zinzino shares.