A Swedish multi-level marketing (MLM) business called Zinzino focuses on customized nutritional supplements. It has acquired at least eight failing multilevel marketing businesses since 2020, including five in 2025. Under CEO Dag Bergheim Pettersen’s direction, Zinzino targets damaged companies to expand its product line and distributor network, despite the multilevel marketing industry’s overall decline. By integrating acquired companies into Zinzino’s ecosystem, this strategy increases revenue despite industry closures and declining demand for direct sales.
In order to limit dilution, Zinzino acquisitions, which concentrate on health and wellness multilevel marketing companies, often use cash and recently issued shares at cheap prices. Crucial agreements for 2025 encompass:
According to press announcements and financial documents, the groundwork was established by previous purchases such as VMA Life (2020, $700K), Enhanzz Global (2022, $1M), ACN Europe (2024, $1M shares), and Xelliss (2024, €2M).
Zinzino’s public listing on Nasdaq First North offers transparency and shows that these purchases are supported by strong growth. Per the annual report, sales increased to SEK 2.2 billion ($236 million) in 2024 from SEK 1.1 billion ($118 million) in 2020, and net profit was SEK 169 million ($18 million). Revenue increased 59% in Q1 2025 to SEK 724M ($77M), 57% in Q2 to SEK 794M ($85M), and 38% in August to SEK 247M ($26M), according to intermediate figures. In order to finance acquisitions without experiencing debt spikes, EBITDA margins were maintained at 10–11%.
Strong European demand is shown by website traffic (~510K monthly visitors, with 27% coming from Hungary), according to SimilarWeb. With earn-outs that link payments to performance and distributors and inventories, acquisitions reduce risk.
According to industry reports, the MLM sector is losing interest, and more businesses are closing due to economic difficulties. Zinzino’s model—test-based supplements and recurring commissions—helps, but share dilution from acquisitions could pressure stock value (ZINZINO B). Zinzino prioritizes retail sales above recruiting in accordance with FTC standards, although regulatory monitoring of MLMs continues.
According to the CEO, Zinzino wants to grow in the U.S. and Asia. Full-year sales might surpass SEK 3B ($320M) if Q3 trends continue. Investors should watch Nasdaq filings and earnings calls for acquisition updates.
