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Modere Acquires Jusuru
EWPORT BEACH, Calif., Jan. 18, 2017 -- Modere, the first social retailer to create a safe and forward-thinking approach to overall wellness, today announced that it has reached an agreement to acquire Jusuru International, Inc. ("Jusuru"), the company behind Liquid BioCell™, a new generation of nutraceuticals for healthy aging, active joints and younger-looking skin that has been backed by multiple clinical studies and seven U.S. and international patents. Terms of the transaction were not disclosed.
Modere offers a category-leading portfolio of live clean lifestyle essential consumer products. Its offerings include safe and effective products for health, wellness, beauty, personal care and household care, which are distributed through its innovative Social Retail model. Modere is a portfolio company of Z Capital Partners, L.L.C., a leading alternative asset management firm with $2.2 billion in regulatory assets under management across complementary private equity and credit businesses.
The addition of Jusuru to Modere will accelerate the international expansion of Jusuru's award-winning Collagen/HA Matrix Technology™ and fuel future Modere health, wellness and personal care products. Jusuru will become the new Modere Collagen Sciences™ division, and will be led by Jusuru's co-founder and President Asma Ishaq. During the gradual integration process, both companies' businesses will continue to operate as usual.
"We are excited to join forces with Jusuru and market its patented, science-based collagen and HA (Hyaluronic Acid) products. Modere is experiencing significant success with our global Social Retail model and rapid growth in the United States. The acquisition of Jusuru will further expand our reach to position Modere to meet our global goal of 10 million healthy homes by 2020," said Robert S. Conlee, Modere's Chief Executive Officer. "Both companies have a shared mission and commitment to developing safe and effective products, and Jusuru's customer-based direct sales philosophy aligns with Modere's new Social Retail model, providing an income opportunity for everyday entrepreneurs while benefiting our customers worldwide."
"We are thrilled to bring our unique nutraceutical collagen technology to Modere and align ourselves with the company's live clean philosophy," said Asma Ishaq. "Modere's customer-centric Social Retail model, which is the future of direct sales, capitalizes on the rapidly changing retail landscape. By leveraging Modere's modern marketing and global support, we look forward to introducing Liquid BioCell™ internationally and providing greater opportunities for our sales force of Independent Representatives to bring health and wellness benefits to individuals worldwide."
"I am proud of Modere's continued growth through its category-leading portfolio, innovative Social Retail business model and best-in-class global market delivery," said James Zenni, President and Chief Executive Officer of Z Capital. "The addition of Jusuru will create immense opportunity to diversify its offerings by utilizing Jusuru's patented superior collagen products. The breadth of our collective expertise in marketing safe, innovative health and wellness products will create additional opportunities for Modere. Z Capital looks forward to welcoming the Jusuru team members and continuing to support Modere's success."
FTC Sending Checks to Herbalife Distributors
January 10, 2017 -- The FTC announced it is mailing checks to almost 350,000 Herbalife distributors as part of the ettlement with Herbalife. Herbalife agreed to pay $200 million and to restructure its business in order to avoid being classified as a pyramid scheme. Herbalife publicly disagreed with the FTC's allegations but said it was settling to avoid the costs associated with litigation.
The FTC is sending partial refunds to distributors who paid at least $1,000 to Herbalife between 2009 and 2015 and had little or no earnings.
The FTC also released guidance for MLMs to avoid conduct which would draw scrutiny and possibly violate the law, which can be found on its website.
- Herbalife Nutrition Announces CEO Transition Plan
- Herbalife Nutrition to Participate in Upcoming Scientific Conferences