DALLAS, May 6, 2016 /PRNewswire/ -- The United
Kingdom government agency which reviews merger and acquisition
transactions announced today that it has cleared the acquisition by
JRJR 33, Inc., doing business as JRJR Networks (NYSE MKT:
JRJR) (formerly CVSL Inc.) of Betterware Ltd.
The UK Competition and Markets Authority (CMA) notified JRJR
Networks of its clearance decision and has posted the clearance
decision on its web site. The CMA said that the full text of
its decision will be available shortly.
"We are very pleased to receive word that the CMA has given its
approval to our acquisition of Betterware. This company is
proving to be a valuable and important addition to our JRJR
Networks family of companies and we feel very good about our
position in the UK and Ireland,"
said John Rochon Jr., founder of
JRJR Networks.
JRJR Networks acquired 100% of Betterware, a UK-based
direct-to-consumer company, on October
15, 2015. The CMA subsequently reviewed the
transaction under the merger provisions of the UK law, to determine
whether it had resulted, or might result, in a substantial
lessening of competition within any market or markets in the
United Kingdom.
About JRJR Networks (www.jrjrnetworks.com)
JRJR Networks is a growing platform of direct-to-consumer
brands. Within JRJR Networks, each company retains its separate
identity, sales force, product line and compensation plan, while
JRJR Networks seeks synergies and efficiencies in operational
areas. JRJR Networks 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; Agel Enterprises,
a global seller of nutritional products in gel form as well as a
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;
Kleeneze, a 95-year old UK-based catalog seller of cleaning,
health, beauty, home, outdoor and a variety of other products, and
Betterware, a UK-based home catalog seller. JRJR Networks
also includes Happenings, a lifestyle publication and
marketing company.
Cautionary Note Regarding Forward-Looking
Statements:
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act
of 1995. All statements other than statements of historical
fact contained in this press release are forward-looking
statements. In some cases forward-looking statements can be
identified by terminology such as "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. These forward-looking statements
are based on management's expectations and assumptions as of the
date of this press release and include statements regarding our
position in the UK and our growing platform. The forward
looking statements are subject to a number of risks and
uncertainties, many of which are difficult to predict that could
cause actual results to differ materially from current expectations
and assumptions from those set forth or implied by any
forward-looking statements. Important factors that could cause
actual results to differ materially from current expectations
include our ability to continue to integrate Betterware
into our company and risks outlined under "Risk
Factors" in our Annual Report on Form 10-K/A for its fiscal year
ended December 31, 2014 and
its other filings with the SEC, including subsequent periodic
reports on Forms 10-Q and 8-K. The information in this release is
provided only as of the date of this release, and we undertake no
obligation to update any forward-looking statements contained in
this release on account of new information, future events, or
otherwise, except as required by law.
Contact: Russell Mack
(russell.mack@jrjrnetworks.com)
Investor Relations: Tucker
Gagen (tucker.gagen@jrjrnetworks.com)
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SOURCE JRJR Networks