Tupperware Brands Announces Sale of Beauticontrol Assets to Youngevity International
December 14 2017 - 9:15AM
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 inquiry’s 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.
Safe Harbor Statement This release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. In some cases,
forward-looking statements can be identified by terminology such as
"may," "should," "potential," "continue," "expects," "anticipates,"
"intends," "plans," "believes," "estimates," and similar
expressions, and includes statements regarding expanding the
innovative product development that Beauticontol has been known
for. These forward-looking statements are based on management's
expectations and assumptions as of the date of this press release
and 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, among others, our
ability to effectively integrate Beauticontrol’s sales force into
our existing member base, our ability to expand the innovative
product development that Beauticontol has been known for, our
ability to continue to maintain compliance with the NASDAQ
requirements, the acceptance of the omni-direct approach by our
customers, our ability to expand our distribution, our ability to
add additional products (whether developed internally or through
acquisitions), our ability to continue our financial performance,
and the other factors discussed in our Annual Report on Form 10-K
for the year ended December 31, 2016 and our subsequent 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.
INVESTOR RELATIONS:
Chuck Harbey
Managing Director, Corporate Advisory
PCG Advisory Group
Phone + 1 646 863 7997
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