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Richmond Times Dispatch Article on Acquisition and Rebranding of Journey Health
Richmond Times Dispatch, Gregory J. Gilligan, September 29, 2021
A group of executives backed by a private equity firm has acquired a Chesterfield County company that develops and sells direct-to-consumer health and lifestyle products for seniors. The group bought firstSTREET for Boomers and Beyond Inc. in May and rebranded the business as Journey Health & Lifestyle Brands. Terms of the sale, announced this week, were not disclosed.
Journey Health & Lifestyle plans to add new products to its existing portfolio that include The Perfect Sleep Chair, the Zinger mobility chair, the Zoomer portable folding mobility chair and the Perfect Walker. The company also plans to make additional acquisitions of businesses catering to baby boomers and seniors, CEO Mitchell Yoel said.
“firstSTREET, with all its great products, didn’t have systems that allowed the business to think about what are the needs of this particular type of consumer over time throughout their baby boomer journey as they age and their needs change,” Yoel said.
“There was no connection back to the brand. It was just a transactional company, a successful one, but transactional,” he said. “We think there’s an opportunity here to actually create a meaningful and valuable brand for seniors.”
Yet, Yoel said, he and the other owners felt a name change was needed as part of a broader brand strategy.
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