Nu Skin Enterprises’ Rhyz Sells Mavely Affiliate to Portfolio Company Later in $250 Million Cash Deal

Nu Skin Enterprises‘ Rhyz Inc. subsidiary has sold its Mavely affiliate marketing technology platform to Later, a portfolio company of Summit Partners, in a $250 million cash deal and a minority equity stake in the combined Later/Mavely business. Approximately $33 million of such consideration will be paid to other equity holders in the Mavely business.

In connection with the transaction, Mavely is expected to continue to provide certain technology and social commerce capabilities to support Nu Skin’s affiliate marketing business.

“Together, 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,” said Ryan Napierski, Nu Skin president and CEO. “This underscores the value of Rhyz to incubate and scale meaningful businesses with synergistic value across the enterprise.”

The transaction reportedly generated an approximate five-times return on the company’s cumulative investment in Mavely since it was acquired in 2021. Proceeds from the transaction are expected to be used to pay down debt and fund additional innovation. The company also plans to use its strengthened balance sheet to buy back stock under its existing stock repurchase program, providing value to its shareholders.