DALLAS, Sept. 4, 2013 /PRNewswire/ -- Tomboy Tools Inc.
and CVSL Inc. [stock symbol: CVSL] today signed a definitive
agreement under which Tomboy Tools will become part of CVSL's
strategy of bringing together multiple companies within the direct
selling industry. The two companies had signed a letter of
intent for the transaction on July
12.
Founded in 2000 by Chief Executive Officer Janet Rickstrew and Chief Technical Officer
Mary Tatum, Tomboy Tools sells a
line of tools ergonomically designed to be comfortable for women,
through an independent sales force across the U.S. and
Canada. The company's sales force offers its customers
hands-on home improvement education through home tool
parties.
In addition to its line of more than 75 tools, Tomboy
Tools offers a state-of-the-art GE wireless home security system,
with 24/7 monthly fee-based monitoring and several different
security packages to choose from.
"CVSL has taken another important step today with the signing of
this definitive agreement with Tomboy Tools. As the third
direct selling company joining CVSL, we believe Tomboy Tools will
open doors to two important business categories: the $11 billion home improvement category and the
$13 billion home security
category. Both offer huge opportunities. We're eager to
explore those categories over the coming years and to bring Tomboy
Tools into markets around the world," said CVSL chairman
John Rochon.
Ms. Rickstrew said that her company sees new opportunities for
growth as a result of the transaction. "John Rochon has an exciting vision for CVSL, and
we're thrilled about the prospect of joining it. We believe
we can move to the next level as part of the CVSL family. We
look forward to building our future side by side with the other
companies joining CVSL."
Tomboy Tools has been featured in articles in many national
publications, such as Woman's Day Magazine, Better Homes
and Gardens, Brides Magazine, Family Circle,
Readers Digest and All You Magazine, as well as
HGTV's Design Star, NBC Nightly News and The Today
Show. The company donates a percentage of all
profits to organizations that help women, for purposes including
women's shelters and breast cancer research, as well as animal
welfare charities.
About CVSL (www.cvsl.us.com)
CVSL Inc. is an innovative public company pursuing a strategy of
gathering together multiple companies in the direct selling, or
micro-enterprise, sector. Each company maintains its own
separate brand identity, leadership and product line, while
achieving efficiencies through sharing of back office resources and
best practices. The first two companies to become part of
CVSL are The Longaberger Company, a 40-year old maker of
handcrafted baskets and other home décor items, and Your
Inspiration At Home, an award-winning maker of hand-crafted
spice blends from around the world.
Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements that
involve risks and uncertainties. All statements other than
statements of historical fact contained in this press release are
forward-looking statements. We have attempted to identify
forward-looking statements by terminology including "anticipate,"
"believe," "can," "continue," "could," "estimate," "expect,"
"intend," "may," "plan," "potential," "predict," "project,"
"should," or "will" or the negative of these terms or other
comparable terminology. Although we do not make forward-looking
statements unless we believe we have a reasonable basis for doing
so, we cannot guarantee their accuracy. These statements are only
expectations and involve known and unknown risks, uncertainties,
and other factors, including the risks outlined under "Risk
Factors" in our Annual Report on Form 10-K for our fiscal year
ended December 31, 2012 and those
discussed in other documents we file with the Securities and
Exchange Commission, which may cause our actual results, levels of
activity, performance, or achievements expressed or implied by
these forward-looking statements to differ materially from
expectations. Except as required by law, we undertake no
obligation to update or revise publicly any of the forward-looking
statements after the date of this press release to conform our
statements to actual results or changed expectations.
CVSL Media Contact: Russell
Mack (rmack@cvsl.us.com)
CVSL Investor Relations Contact: Scott Pumper (scottp@cvsl.us.com)
SOURCE CVSL Inc.