SALT LAKE CITY, November 28, 2022--(BUSINESS WIRE)--USANA Health Sciences, Inc. (NYSE: USNA) today announced the acquisition of two companies—Rise Bar and Oola.
These emerging companies share USANA’s health and wellness focus while offering distinct channels or products. Rise Bar manufactures and sells high-quality protein bars that are formulated to help customers achieve their health goals through clean and simple ingredients. Oola is an emerging direct selling company that offers a personal development framework that helps individuals create a life of balance, growth, and purpose.
Although Rise Bar and Oola will continue to operate and grow independently, USANA plans to leverage the knowledge, experience, and technology of these companies to advance USANA’s core business. Likewise, USANA will utilize its assets and resources to facilitate growth for Rise Bar and Oola.
"The acquisition of these emerging companies is part of USANA’s long-term growth strategy," said Kevin Guest, Chief Executive Officer and Chairman of the Board. "We are committed to improving the health and wellness of individuals around the world. While USANA is a leader in many aspects, we recognize that we can accelerate this effort and reach more individuals through strategic acquisitions that align with our corporate values and mission.
"Both Rise Bar and Oola are innovators in the health and wellness industry. We believe we can utilize this innovation to expand our reach, product development, customer experience, and operational results. Going forward, we will continue to pursue accretive business development opportunities to advance our long-term growth strategy."
About Rise® Bar
Founded in 2010, Rise is a protein bar manufacturer based in California that focuses on helping customers achieve their goals through clean and simple ingredients. Rise products are sold direct-to-consumer and through a small but growing number of retailers. More information on Rise Bar can be found at www.risebar.com.
Oola is an emerging direct selling company offering a step-by-step personal development framework that helps individuals create a life of balance, growth, and purpose. Oola began as a book series in 2012, growing over the past decade into a successful coaching network and now a direct sales opportunity. More information on Oola can be found at www.oolalife.com.
USANA develops and manufactures high-quality nutritional supplements, functional foods and personal care products that are sold directly to Associates and Preferred Customers throughout the United States, Canada, Australia, New Zealand, Hong Kong, China, Japan, Taiwan, South Korea, Singapore, Mexico, Malaysia, the Philippines, the Netherlands, the United Kingdom, Thailand, France, Belgium, Colombia, Indonesia, Germany, Spain, Romania, and Italy. More information on USANA can be found at www.usana.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Our actual results could differ materially from those projected in these forward-looking statements, which involve a number of risks and uncertainties, including: uncertainty related to the magnitude, scope and duration of the impact of the COVID-19 pandemic ("COVID-19") to our business, operations and financial results; the further spread of, and regulatory measures or voluntary actions that may be put in place to limit the spread of, COVID-19 in the markets where we operate, including restrictions on business operations, shelter at home, or social distancing requirements; the potential for a resurgence of COVID-19 spread in any of our markets in the future; the impact of COVID-19 on the domestic and world economies, including any negative impact on discretionary spending, consumer demand, and consumer behavior in general; regulatory risk in China in connection with the health products and direct selling business models; regulatory risk in the United States in connection with the direct selling business model; potential negative effects of deteriorating foreign and/or trade relations between the United States and China; potential negative effects from geopolitical relations and conflicts, including the Russia-Ukraine conflict; potential negative effects of material breaches of our information technology systems to the extent we experience a material breach; material failures of our information technology systems; global economic conditions generally, including increasing inflationary pressure around the world and any negative impact on our operating costs, consumer demand and consumer behavior in general; reliance upon our network of independent Associates; risk associated with governmental regulation of our products, manufacturing and direct selling business model; adverse publicity risks globally; risks associated with our international expansion and operations; and uncertainty relating to the fluctuation in U.S. and other international currencies. The contents of this release should be considered in conjunction with the risk factors, warnings, and cautionary statements that are contained in our most recent filings with the Securities and Exchange Commission. The forward-looking statements in this press release set forth our beliefs as of the date hereof. We do not undertake any obligation to update any forward-looking statement after the date hereof or to conform such statements to actual results or changes in the Company’s expectations, except as required by law.
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