ORLANDO, FL, Dec. 14, 2017 (GLOBE NEWSWIRE) -- 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 email@example.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.
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Source:Youngevity International, Inc.