Youngevity International (NASDAQ: YGYI), a leading
multi-channel lifestyle company operating in three distinct business segments
including a commercial coffee enterprise and a commercial hemp enterprise,
today announced that it is exploring the divestiture of its direct selling
business unit back to the original founders of the direct selling division.
According to the update, YGYI has entered into a non-binding term sheet
regarding a potential transaction with Steve and Michelle Wallach, and its
board of directors has formed a special committee consisting of all of its
independent directors to review and consider the terms of the proposed
transaction. An investment banking firm has been engaged by the special
committee to review the fairness of the proposed transaction to stockholders.
“I believe that the potential of this divestiture strengthens the opportunity
for all stakeholders and the focus that this will bring to the various
divisions will allow both the public company and the direct selling division to
thrive and better leverage their core competencies. The sales and supply
agreements that will exist between the two entities, post divestiture, should
allow for a seamless transition that benefits both companies,” Youngevity CEO
Steve Wallach said in the news release. “The trust and respect and the strong
relationship we have built with our President and CFO, Dave Briskie, provides
us with a great deal of optimism that this potential transaction can provide a
long-term beneficial relationship between our companies and all stakeholders.”
To view the full press release, visit http://ibn.fm/QOuwK
About Youngevity International
Youngevity International, Inc. (NASDAQ: YGYI), is a
multi-channel lifestyle company operating in three distinct business segments
including a commercial coffee enterprise, a commercial hemp enterprise, and a
multi-vertical omni direct selling enterprise. The company features a multi
country selling network and has assembled a virtual main street of products and
services under one corporate entity, YGYI offers products from the six top
selling retail categories: health/nutrition, home/family, food/beverage
(including coffee), spa/beauty, apparel/jewelry, as well as innovative
services. For more information, visit the company’s website at www.YGYI.com.
NOTE TO INVESTORS: The latest news and updates
relating to YGYI are available in the company’s newsroom at http://ibn.fm/YGYI
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