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Wednesday, Feb 21, 2024

Wellness Company Amare Global Buys Kyäni

Nutrient Maker Plans International Push

Irvine-based Amare Global, a mental wellness company that sells nutrients, has bought Kyäni Inc., an Idaho-based health and wellness firm with a focus on antioxidant products that has operations in over 50 countries. Terms of the deal were undisclosed.

Kyäni was started in 2006 by Carl Taylor, Kirk Hansen and Jim Hansen. While successful, the company’s future was put in doubt after a tragedy three years ago.

In 2019, Kirk Hansen, Jim Hansen Jr., their father Jim Hansen and six other family members—four generations of a family including sons and grandchildren—were killed in a South Dakota plane crash on the way back from a hunting trip. The brothers, who were well known in Idaho, were also executives of Conrad & Bischoff, a petroleum products distributor, and KJ’s Super Stores.

“Myself, Kirk and Jim never wavered on our values of integrity, loyalty and hard work,” surviving co-founder Taylor said in a statement.

“As we’ve been searching for the right next step for Kyäni, I wanted to make sure the vision of Kyäni could continue forward and set our business partners up for optimal success.

“I believe this strategic partnership with Amare will help propel Kyäni forward into an exciting new chapter and further fulfill our mission of bringing hope, health, and wellness to the world,” Taylor said.

Payments Pivot

Hiep Tran founded Amare Global in 2016 to create nutrients that combine “ancient natural wisdom with modern scientific innovations.”

Hiep’s vision stems from his own journey in health and wellness “after experiencing extreme burnout in the business world,” according to a company press release.

In 2008, he co-founded Meritus Payment Solutions, a fast-growing payment processing business that in 2014 was acquired for $225 million by a London-based company now known as Paysafe Group (NYSE: PSFE). Tran helped grow the business to a $3 billion valuation until he quit in 2016.

He then created Amare Global.

“Amare Global is a company committed to creating high-quality health and nutrition products that connect people around the world,” he wrote on his LinkedIn page. “Our products will vitalize the mind and body. Our passion is to promote a healthy lifestyle and inspire personal growth.”

Social Impact Entrepreneur

Last year, Tran stepped aside as CEO to give the job to Jared Turner, who describes himself as a “social impact entrepreneur” with two decades of experience in natural products and the direct selling channel. He most recently served as president and chief operating officer at Young Living Essential Oils, growing annual revenue from $200 million to over $2 billion.

Amare said it’s doubled revenue and customer growth this year, although it didn’t release numbers.

“This has been a year of transformative growth and momentum at Amare, and we could not ask for a better partner than Kyäni to help propel our global vision to share the benefits of mental wellness,” Turner said in a statement.

Including the recent acquisition, Amare now has 360 employees. Its headquarters are at the Intersect office campus near John Wayne Airport.

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Peter J. Brennan
Peter J. Brennan
Peter J. Brennan has been a journalist for 40 years. He spent a decade in Latin America covering wars, narcotic traffickers, earthquakes, and business. His resume includes 15 years at Bloomberg News where his headlines and articles sometimes moved the market caps of companies he covered by hundreds of millions of dollars. His articles have been published worldwide, including the New York Times and the Washington Post; he's appeared on CNN, CBC, BBC, and Bloomberg TV. He was awarded a Kiplinger Fellowship at The Ohio State University.

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