July 17, 2013
CVSL Announces Plans to Acquire Tomboy Tools
Following acquisitions of The Longaberger Company and Your Inspiration at Home earlier this year, publicly held CVSL Inc. has signed a letter of intent making Tomboy Tools Inc. the latest addition to its family of companies. With the Tomboy acquisition, CVSL will incorporate the home improvement and home security markets into its direct selling strategy.
Named among Entrepreneur magazine’s “Top 100 Brilliant Companies,” Tomboy sells its line of tools ergonomically designed for women through hands-on home tool parties. The company also offers a GE wireless home security system with various package options.
Tomboy’s unique tools and business opportunity have appeared in Better Homes and Gardens, Brides Magazine, and Readers Digest, as well as HGTV’s Design Star, NBC Nightly News and The Today Show. A percentage of all the company’s profits goes to organizations dedicated to helping women.
“During the past decade, we’ve built a loyal following and shown that education along with tools designed especially for women have great appeal. Now, we’re ready to take the next step of going public, so we can bring our story and our business opportunity to even more women,” said Tomboy Tools CEO Janet Rickstrew.
CVSL Chairman John Rochon sees plenty of opportunity for Tomboy in the power tool and electronic security markets, where annual revenue is estimated at $11 billion and $13 billion respectively. “Tomboy Tools is what I call a gazelle, meaning a promising company with a great product line that’s ready for fast growth,” said Rochon.
Read the full press release from CVSL and Tomboy Tools.
A recent report issued by analysts at International Equities Group (IEG) notes that CVSL’s own business model also offers “significant growth opportunities.” Among the strengths CVSL lends to its member companies, the report cites access to shared resources, highly experienced leadership and diversification on many levels.
“The direct selling industry has long been a powerful economic sector, and it may be ripe for a significant innovation. CVSL believes it can provide that innovation, which would change the industry,” the report states.
Read the press release or view the full IEG report.