March 20, 2015
Jeunesse Announces Acquisition of MonaVie and mynt
Two prominent brands in the health and wellness segment are joining forces in a strategic acquisition announced this week.
Skincare and supplement manufacturer Jeunesse Global has completed the acquisition of MonaVie LLC, a nutrition company that markets juice blends, energy drinks and shake mixes. The acquisition includes the MonaVie-backed mynt brand, which launched in 2014 as a platform to attract a younger generation of tech-savvy, community-minded entrepreneurs.
It’s the second acquisition for Orlando, Florida-based Jeunesse. In 2011 the company acquired GreatLife Intl., another direct seller in the health and wellness niche.
Jeunesse’s leadership was not aggressively looking to acquire, Chief Visionary Officer Scott Lewis told DSN, but they found the brands compatible in more than just the shared French origin of their names. The companies have developed similar cultures and established global brands. MonaVie is operating in key markets such as Brazil, which Jeunesse has targeted as a strategic next step in its international expansion. Through its mynt brand, MonaVie is also actively courting young entrepreneurs.
“From a strategic point of view, we’ve been trying to come up with strategies to penetrate Gen Y and attract a younger demographic as well,” said Lewis. Jeunesse has announced plans to launch the mynt brand in Europe this summer and in Japan soon thereafter.
Another factor that came into consideration was the loyalty MonaVie has inspired among its sales leaders. “We respected the fact that a lot of the top leaders who have been there since the heyday are still there,” Lewis noted. “There is a lot of attrition, but when you look at the top distributors, a lot of them have remained loyal.”
Salt Lake City-based MonaVie launched in 2005 and soon experienced exponential growth. After posting three-year revenue growth of 5,883 percent, the company appeared on the 2009 Inc. 500, an annual list of the fastest-growing companies in the U.S. MonaVie ranked No. 18, with $854.9 million in 2008 revenue.
In the following years, MonaVie experienced growing pains and incurred considerable debt, which Jeunesse has cleared as part of the acquisition agreement. The company has not disclosed further details of the transaction.
“This is an exciting step forward for MonaVie and our distributors,” MonaVie President Mauricio Bellora said in a statement. “Our diligent work over the past two years has resulted in a right-sized company with innovative products and an efficient sourcing platform.”
Under the Jeunesse umbrella, the combined businesses represent a network of more than 4 million distributors in more than 100 countries. The two brands will carry on business as usual, maintaining their respective product lines and distributor structures, as they undergo a gradual integration.
“We’re not in any rush,” Lewis emphasized. “We want to get the company profitable, make sure they have the support to grow and see what happens.”