Zinzino Provides 4.5 Million DIP Loan and Stalking-Horse Bid for Bankrupt Zurvita

GOTHENBURG, Sweden, December 22, 2024 --

Zinzino said it is providing 4.5 million dollars of debtor-in-possession financing to Zurvita Inc., a North American direct-selling health company that filed Chapter 11 on December 20, 2024, and is simultaneously making a stalking-horse offer to buy Zurvita's assets.

If Zinzino's bid is accepted, the DIP loan would convert into part of a debt-settled purchase price after Zurvita runs a court-supervised sale process open to higher offers. If another bidder wins, Zinzino's loan would be repaid with certain process costs reimbursed. Zurvita generates about 30 million dollars of annual sales in the United States, Canada and Mexico.

Chief Executive Dag Bergheim Pettersen said the deal fits Zinzino's acquisition strategy after VMA Life, Enhanzz, an ACN partnership and the Xelliss asset purchase. Zurvita Chief Executive Jay Shafer said Chapter 11 with Zinzino as financier offers the best path to continuity for staff and consultants after reviewing other options.