Modere, an online retailer of personal care and health and wellness products, has announced that it has reached an agreement to buy Anaheim, California-based Jusuru International Inc., a nutraceutical developer of products marketed to the aging population.
Based in Springville, Modere was founded in 2013 by Thomas and Leslie D. Mower and has about 600 employees. Terms of the transaction were not disclosed.
Modere is a portfolio company of Z Capital Partners LLC, an alternative asset management firm with $2.2 billion in regulatory assets under management across complementary private equity and credit businesses.
The addition of Jusuru to Modere will accelerate the international expansion of Jusuru’s Collagen/HA Matrix Technology and fuel future Modere health, wellness and personal care products, the company said in a release. Jusuru will become a Modere Collagen Sciences division and will be led by Jusuru’s co-founder and president, Asma Ishaq. During the gradual integration process, both companies' businesses will continue to operate as usual, the company said.
“We are excited to join forces with Jusuru and market its patented, science-based collagen and hyaluronic acid products,” said Robert S. Conlee, Modere's CEO. “Modere is experiencing significant success with our global social retail model and rapid growth in the United States. The acquisition of Jusuru will further expand our reach to position Modere to meet our global goal of 10 million healthy homes by 2020.”
“We are thrilled to bring our unique nutraceutical collagen technology to Modere and align ourselves with the company’s 'live clean' philosophy,” said Ishaq. “Modere’s customer-centric social retail model capitalizes on the rapidly changing retail landscape.”
“I am proud of Modere’s continued growth through its category-leading portfolio, innovative social retail business model and best-in-class global market delivery,” said James Zenni, president and CEO of Z Capital.