Youngevity International, Inc., and BeneYOU LLC announced they have executed a non-binding Letter of Intent whereby Youngevity will purchase certain assets of BeneYOU.
Both Youngevity, a leading multi-channel lifestyle company, and BeneYOU, a nutritional and beauty products company, have acknowledged their plans to execute a definitive Asset Purchase Agreement in the coming weeks with an intention to close the transaction by the end of October.
“We’ve built BeneYOU on principles of integrity, hard work and progressive thinking,” said BeneYOU CEO Ryan Anderson. “Like Youngevity, we know making customers and Associates the most important factors in our decision-making process leads to their satisfaction. We are especially gratified that the consistencies between our companies are as strong as they are, and we’re hopeful that we can bring this transaction to a successful conclusion by the end of this month.”
Dave Briskie, president and CFO of Youngevity, stated, “Given the size of the integration and the amount of communication that will take place between both companies, we felt that disclosing where we are in the acquisition process was prudent. Assuming a successful close, we will share additional information regarding the transaction at that time.”