Isagenix International announced a $35 million investment from Co-Founders Jim and Kathy Coover and Chief Visionary Officer Erik Coover, the controlling shareholders, alongside minority shareholders Jim and Tammy Pierce.
This investment, combined with some additional funds from Isagenix, enabled the company to retire over $60 million of the principal amount of the company’s debt and to further support its current growth trends and expanding operations.
“We are laser focused on where the Isagenix business and family are headed, and our investment underscores our optimism,” said Chairman Jim Coover. “Kathy and I are thrilled about the momentum around Isa 2.0 among our customers, our independent distributors, and our dynamic leadership team. Now is the perfect time to redouble our commitment and belief in what we’ve all built together.”
According to the comp any, the investment from the owners will further support the company’s current growth trajectory, ultimately bringing more products and technology solutions to positively impact even more lives worldwide. Since 2020 began, the Isagenix customer base has increased by 45 percent, and it has expanded its reach to 26 markets across the globe.
“Our culture is one of working and growing together to live our best lives. When you invest in something, you are making a commitment to its future promise. We see this every day when members of the Isagenix family invest in themselves,” said Isagenix Chief Executive Officer Travis Ogden. “As always, we are grateful for the vision, leadership, and partnership of the Coovers, which is instilled in the company’s very DNA.”
In concert with the investment, the company’s lending partners have reconfirmed their support for the business with an amendment to their credit agreement, which will give the company greater flexibility for growth.