Full Press Release Details
Nu Skin Enterprises Announces Strategic Transaction of Mavely for $250 Million
PROVO, Utah - Jan. 3, 2025 - Nu Skin
Enterprises Inc. (NYSE: NUS) today announced that its Rhyz Inc. subsidiary completed a strategic transaction with Later, a portfolio company of Summit Partners. As part of the transaction, Rhyz sold its Mavely affiliate marketing technology
platform to Later in exchange for approximately $250 million in the form of cash and a minority equity stake in the combined Later/Mavely business. Approximately $33 million of such consideration will be paid to other equity holders in the Mavely
business. In connection with the transaction, Mavely is expected to continue to provide certain technology and social commerce capabilities to support Nu Skin's affiliate marketing business.
"Together, we believe Later and Mavely will provide enhanced capabilities to our company as we pursue our broader beauty, wellness and lifestyle ecosystem vision,
while the transaction generates additional capital and resources for us to increase innovation in our core Nu Skin business and investment in our Rhyz companies," said Ryan Napierski, Nu Skin president and CEO. "This underscores the value of Rhyz to
incubate and scale meaningful businesses with synergistic value across the enterprise."
This transaction generated an approximate five-times return on the company's cumulative investment in Mavely since it was acquired in 2021. Proceeds from the
transaction are expected to be used to pay down debt and fund additional innovation. The company also plans to use its strengthened balance sheet to buy back stock under its existing stock repurchase program, providing value to its shareholders.
Evercore Group LLC acted as exclusive financial advisor and Simpson Thacher & Bartlett LLP acted as legal counsel to Nu Skin Enterprises.
About Nu Skin Enterprises and Rhyz
The Nu Skin Enterprises Inc. (NYSE: NUS) family of companies includes Nu Skin and Rhyz Inc. Nu Skin
is an integrated beauty and wellness company, powered by a dynamic affiliate opportunity platform, which operates in nearly 50 markets worldwide. Backed by 40 years of scientific research, the company's products help people look, feel and live their
best with brands including Nu Skin personal care, Pharmanex nutrition and ageLOC anti-aging, which includes an award-winning line of beauty device systems. Formed in 2018, Rhyz is a synergistic ecosystem of consumer, technology and manufacturing companies focused on innovation within the beauty, wellness and lifestyle categories.
Important Information Regarding Forward-Looking Statements: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that represent the
company's current expectations and beliefs. All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws and include, but are not limited to, statements regarding the
consideration to be retained by the company and its subsidiaries relating to the transaction, statements of management's expectations regarding achievement of the company's vision, the future performance and capabilities of the combined
Later/Mavely business, the benefits of the continuing commercial services arrangement with Mavely, and planned uses of cash. In some cases, you can identify these statements by forward-looking words such as "will," "plan," "believe," "achieve,"
"expect," and "anticipate," the negative of these words and other similar words.
The forward-looking statements and related assumptions involve risks and uncertainties that could cause actual results and outcomes to differ materially
from any forward-looking statements or views expressed herein. These risks and uncertainties include, but are not limited to, the following:
The company's forward-looking statements contained herein are further qualified by a detailed discussion of associated risks set forth in the documents
filed by the company with the Securities and Exchange Commission. The forward-looking statements set forth the company's beliefs as of the date that such information was first provided, and the company assumes no duty to update the forward-looking
statements contained in this release to reflect any change except as required by law.
Media: media@nuskin.com,
Investors: investorrelations@nuskin.com, (801) 345-3577