Isagenix International (“Isagenix” or “the Company”), a leader in providing nutrition solutions for weight loss, performance, and healthy aging, is pleased to announce the completion of its recapitalization process in accordance with the terms of the Restructuring Support Agreement (“RSA”) it reached on February 27, 2023.
With the support of an Ad Hoc Group of the Company’s investors, Isagenix is now positioned to operate with a stronger financial structure, reduced debt, and additional resources, having eliminated approximately $130 million in senior secured debt and approximately $40 million of unsecured debt.
The Company has also transitioned majority ownership to a group of its investors, including
Arbour Lane Capital Management LP (“ALCM”),
Cerberus Capital Management, L.P. (“Cerberus”),
Crescent Capital Group (“Crescent”), and
Summit House Capital Management LLC (“Summit House”).
Isagenix co-founders Jim and Kathy Coover maintain minority ownership as they continue supporting the go-forward business strategy as evidenced by their contribution of $95 million in value, through the combination of newly contributed cash and their forgiveness of debt.
Pursuant to the terms of the RSA, the Company and its advisors will be forming and announcing a new Board of Directors in the coming weeks as it continues implementing the new ownership structure. The renewed Isagenix team will drive investments in innovation, digital solutions and overall wellbeing while operating with