Shares of lifestyle company Youngevity International (NASDAQ:YGYI) popped Monday after the diversified California company, which sells everything from coffee to health foods, announced it is adding Icelandic Glacial, the spring water, to its portfolio.
Under the terms of the deal, Youngevity and Icelandic Glacial will kick off a three-year cross-marketing partnership that will include packaging the spring water from Iceland with a number of Youngevity products like its 90 For Life nutritional supplements.
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The new partners will also work together to create new products. A potential CBD(cannabidiol)-infused drink is one of their possible collaborations.
The news impressed investors who sent Youngevity shares up 8.7% to $7.11 in afternoon trade.
"I'm ecstatic to have a brand like Icelandic Glacial join the Youngevity team," CEO Steve Wallach said in a statement. "Icelandic Glacial offers a product unlike anything else on the market. It's rare, naturally occurring high pH level and unique lava rock filtering system certainly set it apart.”
Youngevity offers an array of health and nutrition products as well as coffee, essential oils and spa and beauty services. The company was formed by the summer 2011 merger of Youngevity Essential Life Sciences and Javulation Coffee Company.
Icelandic Glacial™, meanwhile, is a natural spring water, bottled at the source from Iceland's legendary Ölfus Spring, which was formed more than 5,000 years ago and is shielded from pollution by lava rock.
Contact Ellen Kelleher at [email protected]om