Zinzino, has today signed a letter of intent with the shareholders of the North American direct selling company Zurvita Inc.
“Zurvita or the Company” to acquire 100% of the shares in the Company. This is another strategically important step in Zinzino’s growth plans focused on improving personal health and wellness on a global scale with innovative biotechnology and a groundbreaking product portfolio marketed through direct sales.
Zurvita is a direct selling health company with operations in the United States, Canada and Mexico. The brand portfolio offers a range of innovative health and wellness products,
The business has total annual sales of approximately USD 30 million with good gross margins. 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.
The profitability of the Company will thus be able to develop well by utilizing Zinzino’s existing technical platform and organization.
According to the letter of intent, Zinzino will pay a fixed debt-regulated purchase price of USD 16.5 million at closing, of which USD 5 million is in newly issued Zinzino shares.
In addition, up to USD 0.5 million in earn-outs will be paid based on future sales development. Zinzino is financing the acquisition