Akea Acquired By Avidus

VANCOUVER, BC and MESA, AZ, Feb. 20, 2014 - Avidus Management Group Inc. is pleased to announce that it has entered into an asset purchase agreement with Akea, LLC, pursuant to which the Company has acquired the business assets of Akea, a network marketing company based in Raleigh, North Carolina. Completion of the transaction is subject to the final approval of the TSX Venture Exchange.

Avidus' CEO, Doug Ridley, commented, "In the 3rd quarter of 2013, we announced that Avidus would implement a growth strategy that included acquisitions of direct sales/network marketing companies. As our first such acquisition, Akea brings a distributor and customer base with substantial present value, as well as tremendous growth potential and a complementary product of exceptional quality. We will be introducing Asantae products to the Akea network and Akea products to the Asantae network in the near-term. Akea joining the Avidus family is the first of several growth initiatives anticipated in 2014."

Akea's CEO, Munther Qubain, said, "Over the past 4 years, we have built a solid product foundation and have gathered loyal customers and distributors who have built successful businesses. By joining forces with Avidus/Asantae, our field organization will benefit from their corporate and field leadership teams as well as their F.A.S.T. Track Business Building System. We strongly believe this partnership will help accelerate growth and enable us to better reach the masses with our exceptional product."

 

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