NEWS BRIEF: Utah-based Nu Skin has Sold its Influencer Marketing Platform, Mavely, for $250 Million in Cash and Stock

Rhys, the Provo, Utah-based strategic investment arm of Nu Skin Enterprises (also based in Provo), has sold portfolio company, Mavely, for $250 million in cash and stock.

According to the Nu Skin (NYSE:NUS) news release (and Nu Skin's Form 8-K filed with the U.S. Securities and Exchange Commission), Mavely was sold to Boston, Massachusetts-based Later for

• $230 million in cash and
• $20 million in Mavely stock.

Of the cash consideration, ~$33 million is going to certain, unnamed Mavely shareholders.

Additionally, post-acquisition

"... Mavely is expected to continue to provide certain technology and social commerce capabilities to support Nu Skin’s affiliate marketing business."

On its website, Rhys is defined as a connected beauty, wellness and lifestyle ecosystem, with six other companies besides Chicago, Illinois-based Mavely noted as current Rhys portfolio companies:

1. 3i Solutions, a Wooster, Ohio-based "... innovative biotech research company focused on ingredient solutions that increase absorption, bioavailability and shelf life."
2. BeautyBio, a Dallas, Texas-based "... clinically tested, cruelty-free, clean skincare brand with a tightly curated collection of innovative beauty products and devices."
3. CasePack, a Draper, Utah-based "... innovative packaging distributor that offers consulting and warehouse services to help customers take their product from idea to reality ... including (such) environmentally (friendly) packaging (as) PCR, bio-resins — corn and sugar cane based — (plus) refillable and reuseable packages."
4. Elevate Health Sciences, a Provo-based "... full-service manufacturer of high-quality soft gels, capsules and stick packs, specializing in the personal healthcare and dietary supplement industries.... (capable of producing) 20 million soft gels and capsules (per) day."
5. LifeDNA, a Honolulu, Hawaii-based "... pioneering personal genomics company (that) offers DNA-personalized reports, insights and actionable suggestions to help people unlock the power of their DNA."
6. Wasatch Product Development, a Draper-based "... full-service contract manufacturer specializing in high-end personal care, cosmetic, dental care, OTC, dietary supplement and food products with state-of-the-art facilities and equipment for superior process control and product quality .... (with over) 500,000-square-feet of manufacturing and warehouse space."

According to multiple news reports, Mavely has thousands of ecommerce brands supported by over 120,000 social media influencers who help promote said brands and (in certain instances) drive ecommerce sales, for which the influencers are paid commissions.

Ryan Napierski, Nu Skin president and CEO, said:

"... 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."

Mavely was acquired by Rhyz / Nu Skin in November 2021.

Although the acquisition price paid by Nu Skin for Mavely was not disclosed back in 2021, Nu Skin noted in the news release announcing this month's sale of Mavely that the sale "... generated an approximate (5X) return on the company’s cumulative investment in Mavely since it was acquired in 2021."

Nu Skin expects to utilize transaction proceeds from its sale of Mavely "... to pay down debt and fund additional innovation."

{NOTE: Later is a portfolio company of Summit Partners, a Boston-based, growth-focused private equity firm with $42 billion in Assets Under Management (AUM).}

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