DALLAS, Oct. 15, 2015 /PRNewswire/ -- CVSL
Inc. (NYSE MKT: CVSL) has acquired 100% of Betterware
Ltd., a United Kingdom-based
direct-to-consumer company, making Betterware the tenth company to
become part of CVSL and giving CVSL a commanding presence in the
U.K. home shopping market.
CVSL's Vice Chairman and Chief Financial Officer John Rochon Jr. noted that there are significant
similarities between Betterware and Kleeneze, another
well-known U.K. direct-to-consumer company, which CVSL acquired in
March. "These two famous brands and their sales networks will
remain separate, while we expect major synergies in the operations
of the two companies that we believe will yield efficiencies and
improve profitability for both. The sales networks and customers of
both companies should benefit."
"With Kleeneze and Betterware side by side within CVSL, we have
a powerful position in the U.K. home shopping market. With both of
these two established consumer growth brands in the CVSL portfolio,
we expect to have a total sales network of about 13,000 people in
the U.K. market, making us a major income opportunity creator in
the U.K. and Ireland," he
said.
"Having Betterware and Kleeneze together inside CVSL should give
us an excellent platform for expansion into other European
markets," added Mr. Rochon.
With about 5,000 distributors, Birmingham-based Betterware conducts business
throughout the U.K. and Ireland.
Customers order through distributors as well as by phone and
online. Betterware transacts about five million customer
orders every year.
For its last reported 12-month period, Betterware reported net
revenue of approximately $36
million.
Betterware has been one of the U.K.'s most successful home
shopping companies since 1928. Best known for its extensive
houseware and home care cleaning products, its range has grown over
the years in response to customers' needs and includes gifts,
personal care and beauty, as well as outdoor and electrical
products.
"Joining the CVSL family represents a great opportunity for
Betterware," said Rob Way, Managing
Director of Betterware. "This will open an exciting new chapter in
our company's long and storied history. We are eager to make
the most of this alliance and believe the efficiencies to be gained
will be very good for our distributors and their
customers."
About CVSL
CVSL is a growing federation of direct-to-consumer brands.
Within CVSL, each company retains its own separate brand identity,
sales force and compensation plan. CVSL companies currently include
The Longaberger Company, a 42-year old maker of hand-crafted
baskets and other home decor items; Your Inspiration At
Home, an award-winning maker of hand-crafted spices and other
gourmet food items from around the world; Tomboy Tools, a
direct seller of tools designed for women as well as home security
systems; Agel Enterprises, a global seller of nutritional
products in gel form as well as the Caspi™ skin care line,
operating in 40 countries; Paperly, which offers a line of
custom stationery and other personalized products; My Secret
Kitchen, a U.K.-based seller of gourmet food products;
Uppercase Living, which offers a line of customizable vinyl
expressions for display on walls in the home; and Kleeneze,
a UK-based seller of cleaning, health, beauty, home, outdoor and a
variety of other products. CVSL also includes Happenings, a
lifestyle publication and marketing company.
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 include
statements about the synergies in the operation of Kleeneze and
Betterware, the benefits of the acquisition, size of the expected
UK sales network and the acquisition providing a platform for
future European expansion and are based upon current beliefs,
expectations and assumptions. These statements are subject to a
number of risks and uncertainties, as to CVSL's ability to continue
its growth, improve the profitability of the companies and
other risks outlined under "Risk Factors" in CVSL's Annual Report
on Form 10-K/A for its fiscal year ended December 31, 2014 and those risks 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 Investor Relations Contact: Tucker Gagen (tucker.gagen@cvsl.us.com)
CVSL Media Contact: Russell
Mack (russell.mack@cvsl.us.com)
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SOURCE CVSL Inc.