YGYI - NetworkNewsBreaks - Youngevity International Inc. (NASDAQ: YGYI) Completes Acquisition to Establish Khrysos Industries as Global Player in Field-to-Finish Hemp-CBD Oil Isolate and Distillate Market
Leading omni-direct lifestyle company Youngevity International (NASDAQ: YGYI) today announced that it has completed closing of the acquisition of the assets of Khrysos Global —a Tampa, Florida manufacturer of hemp-based CBD extraction equipment. According to the update, the acquisition intends to establish YGYI's newly formed wholly-owned subsidiary, Khrysos Industries, Inc, as a global player in the field-to-finish hemp-CBD oil, isolate, and distillate market. The move further gives YGYI ownership of INX Laboratories and its testing facilities, enabling the company with unprecedented capabilities in the formulation, quality control and testing standards of its CBD products. “We set out a plan to create a vertical opportunity in the hemp space,” YGYI President and CFO Dave Briskie said of the acquisition. “This is a significant step as it relates to the production, cultivation, and extraction of hemp, CBD oil, as well as other cannabinoids. We proudly welcome Dwayne Dundore, as the President of newly formed Khrysos Industries along with his entire and very capable team at Khrysos and INX Labs.”
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About Youngevity International, Inc.
Youngevity International, Inc. is a leading omni-direct lifestyle company offering a hybrid of the direct selling business model that also offers e-commerce and the power of social selling. Assembling a virtual Main Street of products and services under one corporate entity, Youngevity offers proven 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. The company was formed during the summer 2011 merger of Youngevity Essential Life Sciences with Javalution® Coffee Company (now part of the company’s food and beverage division). The resulting company became Youngevity International, Inc. in July 2013. For more information, visit the company’s website at www.YGYI.com
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