GOTHENBURG, Sweden, May 12, 2024
/PRNewswire/ -- Zinzino, the global health and wellness brand from
Scandinavia, has acquired, through a business asset acquisition,
the rights to the distributor database and associated customer
register, inventory, and intellectual property of the Luxembourg-based direct sales company Xellis.
This is a further strategically important step in Zinzino's growth
plans, focusing on improving personal health and well-being on a
global level with innovative biotechnology and a groundbreaking
product portfolio marketed through direct sales.
Xelliss is a global direct sales company based in Luxembourg. Its brand portfolio offers a range
of natural and innovative products in wellness, nutrition, and
cosmetics, based on the microalgae spirulina produced in-house.
A visionary mindset, a tech-first approach, test-based nutrition
at the cellular level, and a strong position to take advantage of
current trends will shape the foundation of the partnership with
Xellis. Since the acquisition of VMA Life in 2020, Enhanzz in 2022,
and the strategic cooperation with ACN at the start of 2024,
Zinzino has been looking for additional powerful investments to
maintain its sustainable, profitable growth, strengthen its
distribution power, expand into new markets, and utilize its
product portfolio in new consumer areas.
-Individual advising and customized solutions are the future,
not only in health and wellness, says Dag
Bergheim Pettersen, CEO of Zinzino, and Jean-Michel Larré,
CEO and founder of Xellis. Together, we have many years of combined
industry experience and everything required to drive the modern,
personal shopping experience through direct sales.
Zinzino acquires Xelliss's distributor organization as well as
inventory and IP rights to the product lines. The operation, which
had a turnover of approximately 8 million
EUR last year, is expected to generate strong growth through
the synergies created in the joint networks. The operation's gross
margins are good, and profitability will therefore be able to
develop very well by utilizing Zinzino's existing technical
platform and organization.
At the time of entry, Zinzino will pay a fixed purchase price of
2 million EUR, divided into 50% cash
and 50% newly issued Zinzino shares. In addition, conditional
additional purchase prices based on sales development generated by
the acquired distributor organization during the period 2024–2029
will apply. The total additional purchase prices are estimated to
amount to 4.0 million EUR but could
reach up to 8.0 million EUR at
maximum outcome and will be regulated entirely with newly issued
Zinzino shares. The cash portion of the purchase price is financed
with own cash.
For more information:
Dag Bergheim Pettersen CEO Zinzino +47 (0) 932 25 700,
zinzino.com
Fredrik Nielsen CFO Zinzino
+46 707 900 174, fredrik.nielsen@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 13.00 on the 12th May
2024.
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/zinzino/r/zinzino-ab--publ--zinzino-acquires-assets-in-xeliss---strategic-reinforcement-in-southern-europe-and,c3977049
The following files are available for download:
https://mb.cision.com/Public/10976/3977049/a3bd3a85114af7b2.pdf
|
Pressrelease
Xellis
|
View original
content:https://www.prnewswire.co.uk/news-releases/zinzino-ab-publ-zinzino-acquires-assets-in-xeliss--strategic-reinforcement-in-southern-europe-and-in-the-microalgae-spirulina-302143016.html