Zinzino announces merger of It Works! into the Zinzino family of businesses for increased distribution power in North America and Europe
Zinzino (publ) (ZZ-B.ST) has today entered into an agreement, and simultaneously closed, to combine with the US-based direct sales company It Works! In an all-share transaction. Through the merger, Zinzino acquired the operational assets of It Works!’ US business, including inventory, distributor agreements, customer agreements, and IP rights, as well as 100% of the shares in It Works! Marketing International UC, an Irish unlimited company, and its wholly owned subsidiaries.
The fixed purchase price amounts to USD 30 million (the “Purchase Price”) which has been paid by Zinzino through a directed set-off issue of 1,843,840 B-shares in Zinzino (the “Directed Issue”). The Directed Issue has been resolved upon by the board of directors of Zinzino, based on the authorization of the Annual General Meeting. The subscription price in the Directed Issue amounts to SEK 145.62 per B-share, which corresponds to the volume weighted average price of Zinzino’s B-share two business days prior to the signing and closing of the transaction. In addition, an additional purchase price estimated to USD 4 million could be paid to It Works! during a five-year span
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Acquisition will add to BeFra’s portfolio a leading, iconic, and high-quality brand with significant potential to reignite its growth through innovation
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Zinzino Completes Acquisition of Truvy, Increasing North America, Latin America, South Korea Distribution
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Zinzino (Zinzino AB) announced its letter of intent earlier this month to acquire the North American direct sales company Truvy. Zinzino has now completed the acquisition process and thereby acquired the rights to Truvy’s distributor database and associated customer register, inventory, and IP rights. In addition to the assets, 100% of the shares in Truvy’s South Korean subsidiary have been acquired to accelerate the establishment process and increase distribution power in the country.
This is another strategically important step in Zinzino’s growth plans, which focus on improving personal health and well-being on a global level with innovative biotechnology and a groundbreaking product portfolio marketed through direct sales.
Truvy is a global direct sales company in the health segment, operating in North America, Latin America, and South Korea. Its brand portfolio offers a range of innovative products in the areas of health and weight loss.
The business has a total annual turnover of approximately USD 12 million. The collaboration with Zinzino is expected to add growth through the synergies that arise in the joint networks, combined with Zinzino’s test-based product concept. Profitability through the transactions will thus be able to develop well by utilizing Zinzino’s existing technical platform and organization.
Upon completion, Zinzino will pay a fixed purchase
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Zinzino to Acquire Truvy For Increased Distribution Power in North America, Latin America, South Korea
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Zinzino AB (PUBL) has signed a letter of intent (LOI) with the North American direct sales company Truvy. “Truvy or the Company” regarding an asset acquisition of the company’s distributor database and associated customer register, inventory, and IP rights.
In addition to the assets, Zinzino also intends to acquire 100% of the shares in Truvy’s South Korean subsidiary to accelerate the establishment process and increase distribution power in the country. This is another strategically important step in Zinzino’s growth plans, which focus on improving personal health and well-being on a global level with innovative biotechnology and a groundbreaking product portfolio marketed through direct sales.
Truvy is a global direct sales company in the health segment, operating in North America, Latin America, and South Korea. Its brand portfolio offers a range of innovative products in the areas of health and weight loss. The business has a total annual turnover of approximately USD 12 million.
The collaboration with Zinzino is expected to add growth through the synergies that arise in the joint networks, combined with Zinzino’s test-based product concept. Profitability through the transactions will thus be able to develop well by utilizing Zinzino’s existing technical platform and organization.
According to the letter of intent, Zinzino will