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://cnw.fm/Z5Owj
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://cnw.fm/YGYI
HempWireNews (HWN) is a dedicated information provider focused on (1) aggregating hemp-related news, (2) issuing HempNewsBreaks designed to update investors on the latest developments in the hemp market, (3) enhancing corporate news releases, (4) providing full-service distribution and social media offerings to public and private client-partners and (5) designing and implementing all-inclusive corporate communication solutions. HNW is strategically positioned within the rapidly expanding hemp sector with a team of journalists working to help a growing roster of public and private companies reach a wide audience of investors, consumers and members of the media. We leverage a vast network of more than 5,000 key syndication outlets to deliver unparalleled visibility, recognition and content to the hemp industry. HempWireNews (HWN) is where HEMP news, content and information converge.
To receive instant SMS alerts, text HEMPWIRE to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.HempWireNews.com
Do you have a questions or are you interested in working with HWN? Ask our Editor
HempWireNews is part of the InvestorBrandNetwork.