ORLANDO, Fla., Dec. 14, 2017 /PRNewswire/ -- Tupperware Brands
Corporation (NYSE: TUP) and Youngevity International, Inc.
(NASDAQ:YGYI) today announced they have reached an agreement
whereby Tupperware Brands will sell Beauticontrol assets to
Youngevity, a leading omni-direct lifestyle company. As part of the
deal, Youngevity will integrate Beauticontrol's sales force into
its company, marketing Beauticontrol branded products, as well as
the other brands in Youngevity's extensive product portfolio.
Youngevity will also market Beauticontrol branded products to its
existing member base. Tupperware will earn a royalty based on
future sales of the Beauticontrol sales force, and sales of the
Beauticontrol product line by the existing Youngevity members.
"We couldn't be more pleased to reach this agreement with
Youngevity. We feel Youngevity's 20 year history and impressive
track record make them the ideal company to welcome Beauticontrol
into its family of brands. The agreement will allow Beauticontrol's
sales force to again be able to purchase many of the products that
they and their customers love. As part of Youngevity, the
Beauticontrol product line will have an even wider audience through
its existing members and by joining Youngevity, the Beauticontrol
sales force members will be able to enjoy a terrific direct selling
earning opportunity. While likely to be modest in any
particular year, monetizing these Beauticontrol assets is a win for
Tupperware Brand's shareholders," said Rick
Goings, Chairman and CEO of Tupperware Brands.
"We're thrilled and proud to enter into an agreement with
Tupperware who has built an iconic and impressive global brand and
company. We look forward to welcoming the sales force of
Beauticontrol and expanding the innovative product development that
Beauticontrol has become known for over the last 27 years," said
Steve Wallach, CEO and Chairman of
Youngevity.
For more information on how to engage as a Beauticontrol member
please send inquiries by email to
beauticontrolinfo@youngevity.com.
J.P. Morgan Securities LLC served as exclusive financial advisor
and Sidley Austin LLP served as legal advisor to Tupperware
Brands.
About Tupperware Brands Corporation
Tupperware Brands Corporation (NYSE: TUP), through an
independent sales force of 3.2 million, is the leading global
marketer of innovative, premium products across multiple brands
utilizing social selling. Product brands and categories
include design-centric preparation, storage and serving solutions
for the kitchen and home through the Tupperware brand and beauty
and personal care products through the Avroy Shlain, Fuller
Cosmetics, NaturCare, Nutrimetics, and Nuvo brands.
About Youngevity International, Inc.
Youngevity International, Inc.
( NASDAQ : YGYI ), is a leading omni-direct
lifestyle company -- offering a hybrid of the direct selling
business model, that also offers e-commerce and the power of social
selling. Assembling a virtual Main Street of products and
services under one corporate entity, Youngevity offers products
from the six top selling retail categories: health/nutrition,
home/family, food/beverage (including coffee), spa/beauty,
apparel/jewelry, as well as innovative services. The Company
was formed in the course of the summer 2011 merger of Youngevity
Essential Life Sciences with Javalution® Coffee Company (now part
of the company's food and beverage division). The resulting
company became Youngevity International, Inc. in July
2013. For investor information, please visit
ygyi.com. For general information on products and services,
please visit us at youngevity.com. Be sure to like us
on Facebook and follow us on Twitter.
Tupperware Brand's stock is listed on the New York Stock
Exchange (NYSE: TUP). Statements contained in this release,
which are not historical fact and use predictive words such as
"estimates", "outlook", "guidance", "expects", "target" or "will"
are forward looking statements. These statements involve
risks and uncertainties that include the integration of
Beauticontrol's sales force into Youngevity's system, recruiting
and activity of Beauticontrol's and Youngevity's independent sales
force and members relating to governmental actions and otherwise,
the success of new product introductions and promotional programs,
governmental approvals of materials for use in beauty and personal
care products, the effects of economic and political conditions and
other risks detailed in the Company's periodic reports as filed in
accordance with the Securities and Exchange Act of 1934, as
amended.
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SOURCE Tupperware Brands Corporation