Zinzino Signs Letter of Intent to Buy Zurvita for 16.5 Million Dollars

Zinzino has signed a letter of intent with the shareholders of Zurvita Inc. to acquire 100 percent of the North American direct selling company.

Zurvita, which operates in the United States, Canada and Mexico, has annual sales of about 30 million dollars. Under the letter of intent, Zinzino will pay a fixed, debt-regulated purchase price of 16.5 million dollars at closing, including 5 million dollars in newly issued Zinzino shares, plus up to 0.5 million dollars in earn-outs tied to future sales. Zinzino will fund the deal from its own cash flow and existing liquidity and intends to sign a final agreement in the third quarter after due diligence.

The planned deal follows Zinzino's acquisitions of VMA Life in 2020 and Enhanzz in 2022, its partnership with ACN and the recent asset purchase of Xelliss.

"Personalized advice and tailored solutions are the future, and not just in health and wellness," said Zinzino Chief Executive Dag Bergheim Pettersen and Zurvita Chief Executive and co-founder Jay Shafer.