PROVO, Utah, Oct 31, 2006 (BUSINESS WIRE) -- Whole Living, Inc. (WHLV) 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(TM)," 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."
Whole Living, Inc. develops, manufactures and distributes an expansive line of all natural products to North America, Australia, Europe, and Asia. Offerings include FrequenSea(TM) a whole food beverage, Pulse(TM) a whole food snack or meal replacement, and an entire catalog of meals, snacks, personal hygiene products and essential oils.
Forward Looking Statements
This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.