Whole Living Signs Letter of Intent to Purchase the Remaining 77% of ForeverGreen International
Whole Living embraced ForeverGreen’s business model upon its equity investment, and has worked together to streamline operations and reduce overhead.
01/11/06 Whole Living, Inc. a manufacturer and distributor of all natural whole foods, today announced they have entered into a Letter of Intent to acquire the remaining 77 percent of ForeverGreen International, LLC.
Whole Living acquired a 23 percent interest in the company during the 1st quarter of 2006, and upon approval of this agreement, would acquire 100 percent of ForeverGreen. The agreement calls for a stock-for-stock transaction whereby Whole Living will exchange 4,240,549 restricted shares for the remaining 77 percent of ForeverGreen.
The parties anticipate the acquisition to close by the end of the year. Through the first nine months of 2006, ForeverGreen’s revenues exceeded $14,000,000.
Whole Living embraced ForeverGreen’s business model upon its equity investment, and has worked together to streamline operations and reduce overhead. The management anticipates this transaction will result in further cost savings and increased profitability. The companies have combined their product catalogs and focused on its flagship product, “FrequenSea,” a nutritional whole food drink consisting of a proprietary blend of marine phytoplankton and nutrients from the land and sea.
“Since the initial investment in ForeverGreen, our two companies have worked together to expand our product catalog, distribution channels, global markets and product awareness,” commented President Ron Williams. “As we consolidate our operations, we will take full advantage of the synergies this transaction creates and capitalize on the markets each company has developed.”
