Ethos Evironmental and Youngevity Merge

by louabbott on November 24, 2009

This press release dated November 23 announces that Youngevity will merge with Ethos Environmental

Ethos Environmental, Inc. (OTCBB: ETEV), a leading manufacturer and distributor of a unique line of proprietary eco-efficient fuel reformulating products that provide fuel efficiency and lower harmful emissions for both commercial and individual vehicles, is pleased to announce the signing of a definitive merger agreement with AL Global Corporation d/b/a Youngevity Essential Life Sciences. The pending merger is expected to close in the first quarter of 2010.

Youngevity is an international direct marketing company that has been supplying hundreds of thousands of satisfied consumers and resellers with innovative products since 1997, grossing over $250 million in sales since inception. With this profitable union, not only will we provide a solution to a growing demand for products that provide a healthy lifestyle but also present an environmentally responsible choice.

Notwithstanding the pending merger, and as part of the effort to integrate Ethos and Youngevity, effective immediately, Stephan R. Wallach has been appointed CEO of Ethos Environmental, Inc., and Dr. Joel D. Wallach becomes Chairman of the Board. Concurrently, Corey P. Schlossmann has resigned as CEO, and Howard Landa has resigned as a Director. Mr. Schlossmann will continue as a Director.

…..

“We have been searching for just the right opportunity to move into the environmentally-consciousness space,” stated incoming Chairman of the Board, Dr. Joel Wallach, the founder of Youngevity. “I like that Ethos has been dedicated to making a positive impact on the environment with the same passion that Youngevity brings to the healthy-lifestyle market. We look forward to rallying around this product and its cause.”

“This merger will provide substantive exposure to our products and represents a major step forward for Ethos,” said Corey P. Schlossmann, outgoing CEO of Ethos, who will continue as a board member. “We believe that by merging Ethos with Youngevity, a respected direct selling distribution company capable of folding our scientifically-proven product line into their extensive domestic and international distributor base, we have taken an important step in increasing value for our shareholders. I am elated with this merger and look forward to supporting incoming CEO Stephan R. Wallach and his team as they help Ethos further meet its potential.”

Speaking about the benefit for Youngevity, incoming CEO Wallach, an avid car enthusiast states, “Our distributors have been clamoring for a breakthrough eco-friendly product like EthosFR+ and EthosFR Oil Treatment. Youngevity benefits by becoming a public company through this merger, making this by far the most significant acquisition our company has made to date. In addition, it will further provide the type of financial audience we have been looking for to support our unique industry niche and assist our company in meeting its vast potential.”

Full story and Money.CNN.com.

A good part of Youngevity’s growth has come by acquisition of other companies.  Other companies or brands now under the Youngevity banner include: Tru Chocolate, Mineral Makeup, Suzanne, Soul Purpose, SupraLife, ProJoba, NuVANTE, Tidal WAve, The Balance Company, PureWorks, Ancient Legacy, OvatioN Lifestyles, and Isola Luce.

Also see our MLM company overviews:
Ecomates Facts, News and Review
Youngevity Facts, News and Review

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