GOTHENBURG, Sweden, Feb. 14, 2025 /PRNewswire/ — In a press release dated December 21, 2024, Zinzino announced that the company has finalized an agreement to acquire the assets of Zurvita, a direct-selling healthcare company, after serving as a debtor-in-possession (DIP) financier during Zurvita’s Chapter 11 bankruptcy proceedings. Zinzino provided DIP financing totaling USD 4.5 million, and following the successful completion of the restructuring process, its offer to acquire Zurvita’s assets has been accepted as part of a debt-settled purchase arrangement. The final terms of the acquisition have now been agreed upon by both parties.
Under the agreement, Zinzino will pay a fixed purchase price of USD 9.4 million, which includes the DIP financing. Of this amount, USD 2.5 million will be settled through newly issued Zinzino shares. Additionally, the acquisition includes contingent earn-out payments based on sales performance from 2025 to 2029, with a maximum additional consideration of USD 1.9 million, which will also be fully settled in newly issued Zinzino shares. The cash portion of the purchase price will be financed through Zinzino’s existing cash reserves.
Zurvita operates in the United States, Canada, and Mexico, offering a diverse portfolio of innovative health and wellness products. Through this acquisition, Zinzino will gain access to Zurvita’s distribution network, inventory, intellectual property rights, and other key assets. While Zurvita’s annual sales currently total approximately USD 30 million, the integration with Zinzino is expected to drive further growth through synergistic benefits, leveraging Zinzino’s test-based product approach and extensive distributor network. Profitability is anticipated to improve through the optimization of Zinzino’s existing technological platform and operational efficiencies.
This acquisition aligns with Zinzino’s long-term strategy of sustainable, profitable growth, expansion into new markets, and continued enhancement of its product portfolio. Building on previous acquisitions, including VMA Life (2020), Enhanzz (2022), and the recent asset purchase of Xelliss, as well as its strategic partnership with ACN, Zinzino remains committed to strengthening its distribution capabilities and reinforcing its leadership in personalized, test-based nutrition.
“Personalized advice and tailored solutions are the future, not just in health and wellness,” said Dag Bergheim Pettersen, CEO of Zinzino, and Jay Shafer, CEO and co-founder of Zurvita. “Together, we bring decades of industry expertise and a shared vision to revolutionize the modern, personalized shopping experience through direct sales.”
For more information:
Dag Bergheim Pettersen CEO Zinzino, +47 (0) 932 25 700, www.zinzino.com
Pictures for publication free of charge:
marketing@zinzino.com
Certified Adviser:
Carnegie Investment Bank AB (publ.)
Zinzino AB (publ.) is obliged to publish this information in compliance with current EU regulations governing market abuse. The information was provided by the above contact person for publication at 08:00 on the 14th of February 2025.
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The following files are available for download:
https://mb.cision.com/Public/10976/4105203/bbbbe19f97ff912e.pdf | Press-release-Zinzino-Zurvita-202502 |
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