Just Life Group Limited (NZX: JLG) Acquisition of Intenza New Zealand and Market Update

Thursday 7th October 2021

Just Life Group Limited is pleased to announce the acquisition of the business of Intenza New Zealand Ltd, as a continuation of its acquisition strategy in the ‘Healthy Living’ sector of the Group.

The acquisition is unconditional and is effective from the 7th October 2021. It was funded from existing banking facilities.

In May 2021, Just Life Group acquired the business of About Health, a leading provider of online natural dietary supplements, including well-known brands Lester’s Oil, Res-V Ultimate and FlamaSolve. Intenza operates the same on-line business model as About Health. This business model has proven to be very resilient to the effect of COVID-19 lockdowns.

Intenza has been operating since 1997 and owns well-known brands including Herbal Ignite Max and Prostate Power Flow.

About Health and Intenza will share the same back-end operations realising cost savings. The business will be immediately accretive to the Group earnings.

Intenza has an email database of almost 50,000 past and present customers, providing the opportunity to cross sell the different products to each entities’ customer databases.

In announcing the acquisition, Just Life Group detailed the strategic rationale for the purchase of the Intenza business:

• The various products are brand leaders in their own right

• The products have been well researched

• Efficiencies in operation of the business with About Health

• Opportunities to cross sell

• Profitable business which will immediately add to the profitability of the Just Life Group

The Just Life Group portfolio of brands now comprises of:

• Healthy Living:

o Just Water

o About Health

o Intenza

• Healthy Homes

o Solatube

o Unovent

o The Cylinder Guy

o Hometech

o Designer Tanks

Just Life Group CEO, Tony Falkenstein, says the “The acquisition of Intenza will accelerate the growth of the online supplements business. We are pleased to advise that the cash generated from this market sector has been consistent despite the major disruption to most businesses during the COVID-19 lockdowns.”

2. Market Update

Like most businesses, Just Life Group has been affected by the ongoing COVID-19 lockdowns imposed on various regions across the country. Auckland represents the largest business to business and consumer market and the extended level 4 and level 3 lockdowns will have an adverse impact on the Groups half year results for the six months ending 31 December 2021.

Just Life Group will continue to pursue an acquisition strategy to ensure growth and sustainable future earnings for the group.

Please see the links below for details

Acquisition of Intenza and Market Update

Source: Just Life Group Limited

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