Network marketing company I-FERN Corporation,  founded and managed by its president and CEO, Tommanny Tan, has made a strategic investment by acquiring 100 million Fruitas Holdings Inc. (FRUIT) shares from Lush Properties Inc.

The two entities entered into a block sale transaction on December 20, 2022 at an agreed price of P1.225 per share, about 12 percent higher than the current market price of FRUIT.

I-FERN is the maker of premium quality health care products FERN-D, FERN-ACTIV and MilkCa, among others. It also previously included popular vitamin brand FERN-C in its line-up before the latter's sale to STADA, an international pharmaceutical company.

I-FERN's range of healthcare and supplements products is distributed through its 300,000 strong network marketing system. In 2007, FERN-C breached the P1 billion milestone in sales.

Symbiotic relationship

This investment is expected to expand the reach of I-FERN and FRUIT as both parties have a symbiotic relationship in the production and distribution of health products.

A combination of the marketing expertise, broad distribution channels, and experienced manpower of both parties are expected to boost their respective revenues.

Tan stated that the investment will be a springboard for a beneficial partnership with FRUIT, which will expand the company's revenue stream and distribution structure. "We look forward to and expect a bright future together," Tan said.

For his part, Lester Yu, president and CEO of FRUIT said the proceeds of the investment shall be capitalized by Lush Properties as it builds a war chest for potential acquisition targets under the healthcare and self-care industries and further expansion of its current property portfolio.