LifeVantage Corp., a Lehi-based company that sells health and wellness products through a network marketing model, has acquired LoveBiome, a direct sales company focused on microbiome care and wellness products.
LoveBiome is headquartered in Provo.
LifeVantage said the agreement will allow LifeVantage to incorporate LoveBiome’s experience in the emerging microbiome health sector into its own to broaden its health products offerings. LoveBiome markets a product it calls P84 that is designed to regulate, repair and restore the gut and microbiome through what it calls activation. LifeVantage believes this aligns well with its flagship Protandim family of products and the MindBody GLP-1 System.
“This strategic acquisition represents an acceleration of our mission to offer people around the world a better path to wellness and a healthy vibrant life while also serving as a natural expansion of our activation philosophy,” said Steve Fife, LifeVantage president and CEO. “Kelly Olsen and his team have championed the direct sales industry, while innovating in a growing wellness category. We are thrilled to partner with LoveBiome and grow our reach.”
The company stated that the acquisition would also allow for growth of its representative network in key markets, like the U.S., Taiwan and Europe, and would expand its product portfolio within the gut health supplement market.
LoveBiome founder and CEO Kelly Olsen will remain on the LifeVantage staff to ensure continuity of operations, the company said.
The acquisition is expected to close by mid-October.